Assuming a 5 percent rate of interest, the present value of a business that generates an annual income of $20,000 is worth

The New Deal succeeded in ending the Great Depression

Indicate whether the statement is true or false

A Texas oil woman would like to increase the oil produced from her oil fields. Since it takes over a year to drill new wells, she opts instead for increasing labor and other variable inputs to produce more oil from existing wells. She is making a short-run production decision

a. True b. False Indicate whether the statement is true or false