Trade barriers could be an answer to this question. Also, an embargo could be an acceptable answer. Let me know if you need more help, and give me a thanks if I helped!
Answer:
Explanation:
When we talk about wages and labor hours, we can observe the choice a worker has between leisure and work. In this case, Daniel's wage increased from $67 to $76 per hour, meaning that for him, work becomes more profitable than leisure, as he's earning more per hour that he works. In this case, the substitution effect shows how attractive it can be for Daniel to give up leisure to do more hours of work because of a higher reward. However, as his wage is higher now, the income effect highlights the possibilities of keeping up with a decent standard of living, without spending as many hours as he did before working. He has the possibility to increase his leisure hours, as he's been paid more per hour worked.
Late payments remain on a credit report for seven years from the date of the missed payment. If you have a closed account that was delinquent, the account itself will be removed from the report seven years from the date the account first became late and after which was never again current.
