Which of the Following Was a Result of the Industrial

question 16

Multiple Choice

Which of the following was a result of the Industrial Revolution?

• A) An increase in production in mining,manufacturing,and services
• B) The dominance and expansion of agriculture in the economic sector
• C) The decline of the middle class and the rise of the working class
• D) The closing of the economic gap between rich and poor countries

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Definitions:

Aggregate Supply Curve

A graph showing the relationship between the total output produced by an economy and the price level for output, over a period.

Actual Price Level

The current index of prices for goods and services, reflecting inflation or deflation in an economy.

Short-run

A period in which at least one input is fixed while others can be varied to change the level of output.

Wage Rates

The standard amount of compensation a worker receives for labor, typically expressed per hour, day, or piece.