The opportunity cost of going to college includes:
a. both tuition and the value of the student's time.
b. tuition, but not the value of the student's time, which is a non-monetary cost.
c. neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
d. neither tuition nor the value of the student's time, at least at state-supported universities and colleges.
Question 2
The underground economy includes:
a. only illegal sources of unreported income.
b. both legal and illegal sources of unreported income.
c. both legal and illegal sources of reported income.
d. payments that are reported to the government.
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