Answer the following statement(s) true (T) or false (F)

1. Cost-benefit analysis is the most commonly employed evaluation technique, other than the informal promptings of intuition and experience.
2. The Army Corps of Engineers used cost-benefit analysis as early as 1900s to evaluate the merits of proposed improvements to rivers and harbors.
3. When identifying and assessing costs and benefits, the analyst must be concerned with the range of effects of the proposed program and the point at which the analysis disregards the effects as being too remote for consideration.
4. In part because of the uncertainty over future costs and benefits and in part because of the general principle that people prefer a dollar tomorrow over a dollar today, the cost and benefits of projects must be converted to present values before useful cost-benefit calculations can be made.
5. The reliance on market logic for nonmarket decisions in the public sector is a fundamental irony in cost-benefit analysis.

1.true
2.true
3.true
4.false
5.true