Present value is:
A. how much a certain amount of money needs to be discounted to be meaningful.
B. how much a certain amount of money that will be obtained in the future is worth today.
C. how much a certain amount of money that you have in the present will be worth in the future.
D. the process of accumulation of additional interest paid on interest that has already been earned.
Answer: B
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What are the two ways of looking at GDP?
A. Output approach and consumption approach B. Income approach and saving approach C. Expenditures approach and income approach D. Output approach and expenditures approach
Utility is:
A) a measure of income. B) a measure of savings. C) a measure of satisfaction. D) a measure of expenditure.
Under price discrimination, a monopolist equates the marginal cost with the average revenues in different markets
a. True b. False Indicate whether the statement is true or false
One major fault with factor pricing analysis is that marginal productivity theory merely attempts to justify the income distribution that the capitalist system yields.
Answer the following statement true (T) or false (F)