Technology changed people's lives in the 1990s in the form of:
a. Communication - communicating technologies such as beepers, cellphones, and internet access paved the way for people to easily keep in touch and send their messages in an instant to people who are even in the farthest regions of the Earth.
b. Production of goods - mass production of goods were at its speed because of the development of computer-based machines that can deliver precise measurements and detailed products that can reach a lot of people in the shortest time.
Technology is a continuous improving branch in society which should always be geared at improving lives of people.
Answer: Trade creation
Explanation:
Trade creation is the increase in economic welfare which occurs when a country joins a free trade area, like the customs union. Trade creation will happen when the ltariff barriers has been reduced which leads to lower prices.
Trade creation leads to lower cost on producers which will lead to a rise in economic welfare and consumer surplus. Trade creation also leads to expansion of trade.
Answer:
A person whose salary has increased is able to purchase fewer goods and services.
Explanation:
Inflation is characterized by an increase in the prices of goods and services along with a reduction in the purchasing power.
Real income of an individual refers to the income which has been adjusted for the effects of inflation. Whereas, Nominal income refers to the income which is before any such adjustment for inflation.
In the given case, the nominal income has increased i.e if we ignore inflation. But while considering inflation, the real income of the individual has reduced evidenced by the fact that the purchasing power has reduced.
To get this answer you can simply move the decimal over one.
Or you can multiple 5.30 *0.10 = 0.53
So you can then subtract 0.53 from 5.30 to get the answer of:
$4.77
The correct answer that fills in the blank is the real time data processing for it describes the statement above. The real time data processing includes of ongoing processes which is done in a short period of time that is why transactions that are collected are immediately and processed at once.
