Question 1 What conditions did the Industrial Revolution lead to?

Question 1

What conditions did the Industrial Revolution lead to? Select all that apply.

Select all that apply:

• Unequal distribution of wealth between nations.
• Greater social mobility in the U.S. and Great Britain
• The rise of more dangerous and dirty jobs.
• Rapid and sustained economic growth.

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According to Jan Luiten van Zanden, what contributed to the success of the Industrial Revolution? Select all that apply.

Select all that apply:

• Slavery
• The invention of the printing press.
• Global trading routes
• The standardization of trade

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What is true of the neoclassical growth model?

Select all that apply:

• It was pioneered by John Maynard Keynes.
• Its major components are technological change and capital.
• Its primary tool is the aggregate production function.
• It does not concern itself with physical capital.

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How have the sources of economic growth changed from the 20th to the 21st centuries? Select all that apply.

Select all that apply:

• Improved qualities of factors of production have been more responsible for growth in the 21st century.
• Increases in labor have been comparatively more responsible for growth in the 21st century.
• Quantities of physical capital have been comparatively more responsible for growth in the 21st century.
• Technology has been more responsible for growth in the 21st century.

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Labor productivity is increased by all of the following except _______. Select all that apply.

Select all that apply:

• an unskilled workforce
• a larger number of employees
• modern technology
• higher marginal costs relative to production

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Labor productivity is defined as ________.

Select the correct answer below:

the cost advantages that industries gain due to size

output, expressed per hour or per employee

the rate of growth in relationship to past GDP growth

is the long-run process that occurs as an economy's potential output increases