The income effect is the change in the demand of the goods and services as an result of the change of the The increased voluntary income of the consumer. Hense, the best option that describes the income effect is;The increased income earned by suppliers because of high prices. :)
Answer:
it reveals reality and unreality
Explanation:
Be cautious about assuming similarity and recognize differences amping people
During World War I, 116,516 US soldiers were killed and 204,002 were wounded. If you add those two numbers together, the total number of US soldiers killed or wounded was 320,518.
You can represent that as a fraction of the current population of Chicago like this:
For simplicity's sake (since I assume the Chicago population number is an estimate), let's round the number of soldiers killed or wounded down to 300,000. That would look like this:
We can simplify that down a lot by dividing the number of soldiers and the number of Chicagoans by the least common denominator of 300,000. That would give us this fraction:
So for every 1 US soldier killed or wounded in World War I, there are 10 Chicagoans living in the city today.