Question

Explain:

We discussed how the opportunity cost of sending children to school affects the level of school enrollment across countries. The United Nations Human Development Report 2013 reports the following data for per capita income in 2012 (expressed in 2011 U.S. dollars using purchasing power parity):

Per Capita Income in 2012 (2011 PPP $)
Canada	$40,588
Denmark	41,524
Greece	25,391
Lesotho	2,368
Ethiopia	1,218

a. Which country would you expect to have the highest school enrollment rate? The lowest rate?

Highest: (Click to select)Greece/Denmark/Ethiopia/Lesotho/Canada.

Lowest: (Click to select)Denmark/Ethiopia/Lesotho/Greece/Canada.


b. Identify each of the following as a benefit or a cost of sending your child to school?

Old age support for parents: (Click to select)Benefit/Cost.

Forgone wages: (Click to select)Benefit/Cost.

Improved job opportunities for child: (Click to select)Benefit/Cost.

Tuition, books, and fees: (Click to select)Benefit/Cost.

Job or professional prestige: (Click to select)Benefit/Cost.

Answer 1