If the interest rate is 5 percent, then receiving $1,000 eight years from now is worth more than receiving $700 today

The growth of the subprime mortgage market led to

A) increased demand for houses and helped fuel the boom in housing prices. B) a decline in the housing industry because of higher default risk. C) a decrease in home ownership as investors chose other assets over housing. D) decreased demand for houses as the less credit-worthy borrowers could not obtain residential mortgages.

Because of the large number of firms that operate in the agricultural industry, the supply of agricultural products is inelastic over the entire range of output

Indicate whether the statement is true or false