The correct answer would be option B, Higher the cost of living.
The lower a country's economic development, the higher the cost of living.
Explanation:
Cost of living is the amount needed to live a life by fulfilling the basic necessities of a person or family. The cost of living includes the following basic necessities:
- Housing
- Food
- Healthcare
- Education
- Taxes
When an economy's development is lower, all of these basic necessities will be available at a higher price, which means the cost of living would be higher when economic development is lower. Cost of living is directly associated with the wages. When economic development is lower, it means there will be less chances of employment, which in turns will affect the wages.
Cost of living is often found by comparing the living in two cities or two countries. Economic development of the countries directly affect the cost of living.
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A) When the risk is low, the return is high
The answer would be the first x
Traditionally economists have considered culture customs and religion as relatively unimportant factors in explaining the choices consumers make.
Answer & Explanation: The Berlin Blockade occurred between June 1948 to May 1949 which was characterized by the restriction of supplies to the U.S, Britain and French sectors of Berlin which coincidentally was situated within East Germany occupied by the Soviet Union. Railways, roads, canals etc. were blocked leaving millions of civilians without basic amenities.
In response to the Berlin Blockade of the period, the Western Allies arranged what was termed the Berlin Airlift which lasted nearly a year with the aim of bringing essential, vital supplies to the massive population of West Berlin, a difficult feat given the size of the city's population.
The blockage and the airlift response thus represented the very first major conflict of the Cold War era.
