Industrialized former colonial states that dominate the world economic system: Core Countries
Answer:
the firm's demand for labour is elastic. the total wage bill decreased even though wage rates have increased. this indicates that the firm's demand for labour is sensitive to wages. As a result of the rise in wages, the demand for labour by the firm fell more than the rise in price. This indicates that demand is elastic
Explanation:
Answer: rational
Explanation:
Rational expectations is a way by which individuals make their decisions based on their past experience, self interest, human rationality and the information that they have.
Therefore, when individuals acquire, process, and act on relevant economic information promptly in their own self-interest and investigate its impact on others, they are said to have rational expectations.
Answer:
If a decrease in income increase the demand for a good , the good is an inferior good.
An inferior good is a good whose demand falls when income rises and rises when income falls.
Inferior goods have an indirect relationship with income
A normal good is a good whose demand rises when income increases and falls when income falls.
Normal goods have a direct relationship with income.
A substitute good is a good that can be used in place of another good. For example if good A and B are substitutes, if the price of good A increases, it would become more expensive for consumers and consumers would shift to consuming good B. As a result the demand for good B would rise and the quantity demanded of good A would fall.
Complements are goods that are used together. If the price of one of the goods increases, the demand for the other good falls and vice versa.
For example, gasoline and car are complements. If the price of cars fall, people would increase their demand for cars and as result the demand for gasoline would increase.
I hope my answer helps you
Explanation:
Thiamine deficiency would eventually lead to a mental disoreder named <span>Wernicke-Korsakoff syndrome. This mental deficiency involves nerve damages in both the central and peripheral nervous system. On the other hand, riboflavin defiency would likely cause anemia and dermatitis.</span>
