Please label the following statements regarding child labor as true or false. International trade is a key cause of child labor.
As a result, international trade should be restricted to eliminate child labor. The majority of children in the work force work in agricultural industries. The percentage of children in the work force in a country is inversely related to the Real GDP per capita of a country. One of the proposed solutions to child labor is to provide subsidies to families with children who are currently attending school. The education of these children in poverty will have long term benefits.
1 answer:
You might be interested in
Answer:
Inelastic; 5%; fall; 10%; rise
Explanation:
Price elasticity of demand is always negative for normal goods. This happens because of the law of demand, that demand falls with rise in price.
Price elasticity between 0 and 1 shows inelastic demand.
This means that there is smaller change in demand due to a greater change in price level.
Price elasticity of demand is -0.5.
If the price falls by 10%, demand will increase by 5%.
The revenue will fall, because of greater fall in price.
If the price increases by 20%, demand will fall by 10%.
Revenue will increase because of greater increase in price.
