Answer:
d. inflation will reduce their real wage and so decrease the number of available workers.
Explanation:
In the case when the demand for workers in some industries declines and they have to cut in nominal wages, so there would be increase in the wage bill of the industry because of this the price of the products will increased that also increase the inflation.
In the case when the inflation is rise, the real wage would fall as there would be declining in the purchasing power of money
So, the option d is correct
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Answer: Straight line PPF, Opportunity cost is constant.
Explanation:
The PPF for Sweden is downward sloping straight line which depicts that the resources that are used in the production of these two goods are not specialized and the same set of resources is equally useful in producing both smartphones and tablets. Thus, Sweden's opportunity cost of producing more smartphones and fewer tablets should remain constant.
Answer: Trade Industries
Explanation:
Trade industries survive as long as people and businesses can afford to trade goods and services. If entities are unable to afford consumption for a reason such as a decline in income, the trade industries will suffer.
When the economy is not healthy, income levels of people will reduce and so trade industries will suffer as opposed to a healthy economy where entities can afford goods and services which will ensure the survival of trade industries.
Answer:
The economy of the Gilded Age was characterized by:
(i) economic growth and high unemployment among unskilled workers.
(ii) a deep recession in which high unemployment fueled massive and rebellious social change.
(iii) slow economic growth and high unemployment among the middle class.
(iv) rapid economic growth and social change.
Economy:
Economy simply indicates an arrangement in which the people are indulged in consumption, and other economic activities. No arrangement can ever be said as an economy without the prevalence of economic activities.
Answer and Explanation: 1
The correct answer is (iii) slow economic growth and high unemployment among the middle class
In the US, glided age resembles the scenario prevailing in the last phase of 19th century. The primary feature of this age is the slower pace of economic growth. This indicates when the economy is least indulged in industries. Also, several people stay unemployed despite lying within middle-income classes. This is because if the people lying in the middle class are unemployed, then it could be understood that poverty would be extreme in an economy.
