Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy a 10,000 percent tax on certain hollow-tipped bullets.

True or False:
This tax won't raise much revenue because the high tax rate would likely cause the equilibrium quantity to be near zero.

Investment x offers to pay you $5,700 per year for 9 years, whereas investment y offers to pay you $8,300 per year for 5 years. if the discount rate is 6 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y $ if the discount rate is 16 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y