If the world price of cotton falls, firms will be less willing to supply cotton. Therefore, fewer cotton firms may open, or few people will be employed in the cotton-producing industry; therefore, the demand for labour for cotton-producing firms in South Carolina will decrease.
Since the world price of cotton falls, a textile-producing firm in South Carolina which uses cotton as only one aspect of their textiles, textile firms can buy more cotton since it's cheaper and will reduce costs. Since this is the case, the demand for cotton will increase. Because of this, more textiles need to be made, and so the demand for labour increases as a result.
The unemployment resulting from such sectoral shifts in the economy is best described as structural since demand for labour is decreasing in the primary sector and increasing in the secondary sector of the industry.<span>
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Answer:
It will simply not provide any benefit for anyone, including himself.
The answer is B) but if not then it's C)
Answer:
During the public policy process, a special task force is sometimes used to recommend policy.
Explanation:
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Answer:
D. relatively more inelastic because wine is a luxury.
Explanation:
Elasticity is a measure of the sensitivity of demand to price changes. When price changes significantly alter demand, we say that demand is elastic. On the contrary, when price changes do not significantly alter demand, we say that demand is inelastic. This is the case of wine in relation to water. Wine is a good that can be considered sophisticated, luxury. Therefore, consumers are less sensitive to variations in the price of wine. However, water is an abundant good and demanded by all. If the price of water increases, demand tends to decrease as the elasticity of water demand is relatively greater than the elasticity of demand for wine. In other words, wine the demand for wine is relatively more inelastic.
