Which of the following is true of the Industrial Revolution?
a. It led to a twofold increase in the population of all nations
b. It led to a twofold increase in the per-capita GDP of all nations.
c. It led to the invention of machines, leading to a transition to new manufacturing processes.
d. It resulted in a decrease in the foreign reserves of major industrialized nations.
c
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Which of the following statements is true?
A) Optimization in levels is based on behavioral analysis. B) Optimization in differences is based on marginal analysis. C) Optimization in differences is often faster than optimization in levels, as it considers all aspects of the feasible alternatives. D) Optimization in levels is often slower to implement than optimization in differences, as it considers only the aspects in which alternatives differ.
The largest component of national income is:
A) compensation of employees B) proprietor's income C) rental income D) corporate profits