In the supply-demand models to analyze the wheat market, we assume that wheat sold by different sellers is largely the same. We make this assumption
A) to test the model.
B) to easily predict the market price.
C) to simplify the model while keeping important details.
D) to avoid the complexities in the real world.
C
Economics
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At an interest rate of 5 percent, the present value of $1,000 to be received three years from today is
A) less than $875. B) between $875 and $925. C) between $925 and $975. D) more than $975.
Economics
An example of a negative externality created in the market system would be
A) poverty. B) unemployment. C) an increased number of bird flu patients. D) water pollution.
Economics