The difference between the present value of all benefits and the present value of all costs is the
A. "net present value" of an education.
B. current market value of knowledge.
C. external benefit from education.
D. subjective rate of return on an education.
Answer: A
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The forward exchange market:
a. Is the market for current delivery. b. Is the market for current deliveries but future payments. c. Handles transactions for individuals or companies who would like to reduce foreign exchange risk by locking in exchange rates now. d. Is a market with no default risk. e. Provides sufficient liquidity for any maturity and amount.
When the government taxes and spends, each activity affects GDP in the same proportion.
Answer the following statement true (T) or false (F)
If the nominal interest rate is below the equilibrium value, then the quantity demanded of money is ________ than the quantity supplied of money, bond prices will ________, and the nominal interest rate will ________.
A. less; fall; increase B. greater; fall; increase C. greater; rise; increase D. greater; fall; decrease
When total revenue and price are directly related, demand is
A) unit-elastic. B) inelastic. C) elastic. D) not related.