Which would you rather have? a) $100, 10 years from now at 4% interest, or b) $100, 4 years from now at 12% interest.
What will be an ideal response?
a) $67.56
b) $63.55
The present value of a) is greater than the present value of b).
Economics
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A market in which there are many sellers who sell differentiated products is called
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Economics
The surplus created by a price floor will likely be
A) smaller if the good is a necessity. B) larger if the good is addictive. C) smaller if the good is a luxury. D) unaffected by the time that has elapsed since the price ceiling is implemented. E) None of the above answers is correct.
Economics