The rate of interest at which a project's NPV is exactly zero is called its:
A. equilibrium rate.
B. internal rate of return.
C. break-even rate.
D. zero net rate.
B. internal rate of return.
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Compared to the present value of a high school education, the present value of at least a college education is
a. 100 times as great b. nearly double c. the same d. about half e. Present value cannot be used to analyze education
If the costs of negotiating and enforcing contracts are _____ relative to the benefits, buyers and sellers have incentives to make economically efficient arrangements that _____ value
a. high; increase b. low; increase c. high, decrease d. low; decrease
When total production is greater than total expenditures,
A) the economy is in disequilibrium. B) there are increases in inventory. C) total output will decrease. D) all of the above
Census data indicate that, as of 2014, the top fifth of all households receive about ________ times as much income as the bottom fifth.
A. sixteen B. twelve C. eight D. three