What was the Industrial Revolution? How did it contribute to modern economic growth?
What will be an ideal response?
Industrial Revolution is the term used for describing the series of innovation and their implementation in the production process that started to take place at the end of the 18th century in Britain. The revolution contributed to modern economic growth by opening the way for more steady and rapid technological changes. It started a wave of industrialization that spread to many other countries around the world.
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A sign that the Federal Reserve is moving to raise interest rates would be
A) an increase in bank reserves. B) large purchases of Treasury securities by the Federal Reserve. C) a widening gap between the Treasury bill yield and the discount rate. D) a narrowing gap between the Treasury bill yield and the discount rate.
A competitive equilibrium is described by
A) a price only. B) a quantity only. C) the excess supply minus the excess demand. D) a price and a quantity.