In the Expression for Present Value of Benefits (PVB), Σ(B_t/[1+r_s]^t)

question 21

Multiple Choice

In the expression for present value of benefits (PVB) , Σ(b_t/[1+r_s]^t) , with b_t = B_t/(1 + p) ^t,

• A) b_t represents incremental nominal benefits
• B) B_t represents incremental real benefits
• C) b_t represents incremental real benefits
• D) p stands for the opportunity cost of money

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