We discussed how the opportunity cost of sending children to school affects the

Question

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 2010 reports the following data for per capita income in 2010 (in the equivalent of 2008 U.S. dollars):

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

Highest: (Click to select)LesothoEthiopiaDenmarkGreeceCanada.

Lowest: (Click to select)DenmarkEthiopiaLesothoCanadaGreece.


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)BenefitCost.

Forgone wages: (Click to select)CostBenefit.

Improved job opportunities for child: (Click to select)CostBenefit.

Tuition, books, and fees: (Click to select)CostBenefit.

Job or professional prestige: (Click to select)BenefitCost.

Explanation / Answer

a. The country with the largest per capita income is expected to have the largest school enrollment rate. In this case, the answer is Canada.

Ethiopia is expected to have the lowest school enrollment rate.

b. Benefit

Cost

Benefit

Cost

Benefit

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