Orange Computers, Inc., is planning to spend $200,000 on the promotion of its new portable music player next year. The current market interest rate is 5 percent. What is the present value of this promotional budget?

A regressive income tax is defined as a tax for which

A) total taxes paid increase with the level of income. B) total taxes paid are independent of the level of income. C) the average tax rate increases with the level of income. D) the average tax rate decreases with the level of income.

An individual's demand for education is most affected by

(a) direct and indirect costs of schooling. (b) development priorities of the country. (c) the desire to escape agricultural work. (d) all of the above.