If the interest rate is 6 percent, then the present value of $5,000 received ten years from today is $2,583.34
a. True
b. False
Indicate whether the statement is true or false
False
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When the price of a product increases, consumers shift their purchases to other products whose prices are now relatively lower. This statement describes
A. an inferior good. B. the substitution effect. C. the income effect. D. the rationing function of prices.
When the required reserve ratio is decreased:
a. the excess reserves of member banks are reduced, but the money multiplier is not affected. b. the excess reserves of member banks are reduced, and the money multiplier is increased. c. the excess reserves of member banks are increased, but the money multiplier is not affected. d. the excess reserves of member banks are increased, and the money multiplier is increased.
Which of the following statements about marginal utility is correct?
A. It is the change in total utility resulting from getting one additional unit of a good. B. As consumption of a particular good increases, marginal utility decreases. C. It is the satisfaction experienced from consuming a good. D. Both It is the change in total utility resulting from getting one additional unit of a good and As consumption of a particular good increases, marginal utility decreases are correct.
During the recovery from the? 2007-2009 recession, the? employment-population ratio did not increase as much as it might have been expected to because
What will be an ideal response?