C) Textiles industry was the first mechanized industry.
Producers tend to experience first the inflation before
consumers because the prices of raw materials, electricity and fuel which are
needed in the production of goods increase. In this case, the supply of the
materials needed is reduced and the output of products will diminish as well.
Answer:
C) All factors other than the price of bananas (for example, consumer tastes and incomes) are assumed to be constant
Explanation:
When developing an economic model, only a limited number of variables can be taken into account for the sake of simplicity and understanding. Economic models never give a full picture of reality, only an approach.
The economic model alluded in the question is perhaps the most famous of all: the supply and demand model. It tells us that, assuming all else constant, the higher price, the less quantity is demanded, and the lower the price, the more quantity is demanded.
Answer:
At the out burst of the War in 1861, hundreds of Irish and Irish Americans enlisted in the Union Army. Some joined ordinary regiments, but others created three all Irish voluntary infantries: the 63rd New York Infantry Regiment, arranged on Staten Island
