If a project costs $600 today and returns $630 next year, the highest interest rate at which the project should still be undertaken is five percent
Indicate whether the statement is true or false
TRUE
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The original work on the application of the time inconsistency problem in macroeconomics is due to
A) Milton Friedman and Robert Lucas. B) Michael Hutchinson and Carl Walsh. C) Finn Kydland and Edward Prescott. D) Robert Barro and Donald Gordon.
People who live in countries with ________ average incomes generally live __________ lives.
A. lower; shorter B. lower; longer C. higher; shorter D. higher; more meaningful
If a firm that produces honey is facing elastic demand, then the firm would decrease price to increase revenue
a. True b. False Indicate whether the statement is true or false
Use the following graph to answer the question below.
If the price increases from P1 to P2, then the total revenue will gain areas
A. E + F + G, but it will lose area J. B. B + E, but it will lose areas H + I + J. C. A + B + C, but it will lose areas G + I + J. D. C + F + H, but it will lose area J.