Answer:
A developing country (or a low and middle-income country (LMIC), less developed country, less economically developed country (LEDC), medium-industrialized country or underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.
The main purpose of the Thirteenth Amendment was to abolish slavery.
Answer: Deadweight loss
Explanation: Deadweight loss which is also referred to as excess burden, occurs when supply and demand are out of equilibrium. Causes of deadweight are price ceiling, price floor and Taxes.
The Deadweight loss can be calculated as
Deadweight Loss = 0. 5 * (P2 - P1) * (Q1 - Q2).
Where
P1: The original price of the product
P2: The new price of the product after the price ceiling.
Q1: The original quantity demanded
Q2: The new quantity demanded of the product after the price ceiling.
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