If you win 1 million in a lottery and are paid in installments,
a. the future value of these payments is 1 million
b. the present value of these payments equals 1 million if the interest rate is zero
c. the present value of these payments equals 1 million if the interest rate is 10 percent annually
d. the present value of the payments exceeds 1 million if the interest rate is positive
e. the future value of the payments is less than 1 million if the interest rate is negative
Question 2
If the U.S. dollar appreciates in the foreign exchange market,
a. American goods will become more expensive for foreign buyers and foreign goods will be cheaper for Americans
b. American goods will become less expensive for foreign buyers and foreign goods will be more expensive for Americans
c. American goods will become more expensive for foreign buyers and foreign goods will be more expensive for Americans
d. American goods will become cheaper for foreign buyers and foreign goods will be cheaper for Americans
e. neither the price of U.S. exports nor the price of U.S. imports will change
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