Directions: Read the following passages, and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong’’. choose "Doesn’t say".
Passage One
The economic internal rate of return is a generally accepted quantitative measure of the economic attractiveness of a project. It is the discount rate at which the discounted economic benefits of the project are equal to the costs. If the EIRR of a project is equal to, or greater than the opportunity cost of capital in the country, the project is considered acceptable.
Economic costs and benefits exclude "transfer payments" (such as duties and taxes) and rely on international or border prices for traded goods and "shadow prices" for non-traded goods. In the case of goods consumed in the domestic market, the economic value (benefits) of a product equals border price (CIF) of a similar imported product plus any differences in local transport and handling costs. On the other hand, if the project exports part or all of its output, the FOB export price is the correct border price to use for the volume exported.
1. The EIRR is the discounted rate which leads to the discounted economic
benefits of the project equal to the costs.
A. Right
B. Wrong
C. Doesn’t say
2. Economic costs and benefits include ’transfer payments’.
A. Right
B. Wrong
C. Doesn’t say
3. If the EIRR of a project is less than the opportunity cost of capital in a country, the project is considered acceptable.
A. Right
B. Wrong
C. Doesn’t say
4. Border price is an important factor in economic costs and benefits.
A. Right
B. Wrong
C. Doesn’t say
5. The FOB export price is the right border price to use for the volume of product exported.
A. Right
B. Wrong
C. Doesn’t say
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