Which of the following did not occur during the Industrial Revolution?
a. Production became more reliant on highly specialized equipment.
b. A more efficient division of labor was promoted.
c. Workers bore much of the costs of production.
d. The transaction costs of contracting with individual resource owners were reduced.
e. Technological development increased the productivity of most workers.
C
You might also like to view...
A monetary growth rule means that
A) the Fed will raise interest rates if it thinks the economy is growing faster than potential. B) the money supply should grow at a constant rate. C) the Fed will lower interest rates if it thinks a recession is on the horizon. D) the money supply should grow in response to economic conditions.
The labor-force participation rate measures the percentage of the adult population currently in the labor force
a. True b. False Indicate whether the statement is true or false