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Question - A construction company incurred P 2,400,000 for first year of construction of project # 123, which has a contract price of P 16,000,000. The company reported for the first year 'Construction-in-Progress' amounting to P 400,000 (net of progress billings). If the first year percentage-of-completion of project #123 is 20%, then what percentage of the contract price has been billed so far?
a. 3.33%
b. 20%
c. 17.5%
d. Cannot be determined
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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