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:
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Answer:
business and industry.
Explanation:
He rose to prominence as the members of the populist party. He openly advocated for the abolishment of big business/industries at the earlier period of his career.
Over the time, he realized that business and industries were a crucial part of economy to increase the wealth of the citizens. So, he started to changed his belief and showed his support for industrial revolution in United States.
U.S. had been affected more because France and Britain constantly harassed the U.S. and seized U.S. ship's and men. The U.S. was not prepared to fight in a war, so Pres. Jefferson hoped to weaken Britain and France by stopping trade.
