A developed country is a sovereign country that has a developed economy and advanced technological infrastructure relative to other less industrialized nations.
Answer:
The Industrial Revolution
Explanation:
I took the test
Answer:
Option “A” A fall in the price level increases the value of real wealth, is the right answer.
Explanation:
Option A is correct because there is an inverse relationship between price and demand of a commodity. If the price of the commodity increases, then its demand will decrease and the demand curve will shift leftwards. If the price decreases, its demand will increase and the demand curve will shift rightwards. Thus, a fall in price level and an increase in real wealth shows that people have more purchasing power. Thus demand will increase and consequently the demand curve will shift rightwards.
