Although it is possible to determine the present value of a payment to be received in one year, it is not possible to determine the present value of a stream of payments over several years

For the Fed, price stability means stable prices

a. True b. False

Short-run cost relationships for a firm are

A) determined by the law of diminishing marginal product. B) determined by the specific long-run relationships that exist. C) due to the level of wages relative to other input prices. D) due to the normal contractual relations in a market.