Strange manufacturing company is purchasing a production facility at a cost of $21 million. the firm expects the project to generate annual cash flows of $7 million over the next five years. its cost of capital is 18 percent. what is the internal rate of return on this project? (a) 17%(b) 18%(c) 19%(d) 20%

The goal of an economist who formulates new theories is to a. provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works. b. provoke stimulating debate in scientific journals. c. contribute to an understanding of how the world works. d. demonstrate that economists, like other scientists, can formulate testable theories.