Answer:
The binding price floor will cause a surplus of wheat that farmers will be unable to sell.
Explanation:
The price floor is the lowest price that can be paid for goods, by binding price floor the senator requires by law a price for the goods above the equilibrium. The critics would say that since the wheat is binded price floor and cannot drop below the price stated by the senator, when the government inflate the price for the market the consumers will deny to pay the price stated and by that the consumption of wheat would fall creating a surplus of wheat, since the goods won’t be sold.
The answer is C. The Civil war began in 1861 between northern and southern states.
This was due to conflict over slavery’s appearance in western land, the westward expansion, and the fear of the loss of rights!
Answer:
- Human capital and physical capital
Explanation:
There are various factors that are responsible for the unequal distribution of income globally. These factors may include tax evasion, inflation, unemployment, etc.
As per the question, the major reason for this unequal distribution is due to improper allocation of 'human capital and physical capital' across the population which leads to establishing an imbalance in the economy as some people possess excessive wealth to show off while the others born, live, and die in poverty for generations. Thus, improper 'human and physical capital' distribution is the root cause of the increasing gulf between the rich and poor.
Answer:
(A) depends heavily on a nationalized oil industry.
Explanation:
The problem with Venezuela, is that it is what economists called a rentier state. Basically, it means that the country heavily relies on the extraction of natural resources to generate revenue for its country.
With Venezuela, this natural resource is oil. Due to its overreliance on this resource, when oil price went down, the country's economy went down with it. Other countries in South America - such as Brazil and Argentina - diversify their country's source of income, creating a buffer when one sector is experiencing a crisis; which unfortunately Venezuela did not do.
I would say <em>B, </em>for brands will make more of something if a lot of because are buying the product.
