The Industrial Revolution transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system. New machines, new power sources, and new ways of organizing work made existing industries more productive and efficient.
<u>Key features of the Industrial Revolution</u>
- Population shift – moving from rural agriculture to work in factories in cities.
- Mass production of goods, increased efficiency, reduced average costs and enabled more to be produced.
- The rise of steam power, e.g. steam trains, railways and steam-powered machines.
Answer:
correct option is D raise the fed funds rate by 0.5% if inflation rises 1% above its target of 2%
Explanation:
solution
Taylor Rule is invented in 1992 and it is interest rate forecasting model
As the product of John Taylor Rule is the 3 number
- interest rate
- inflation rate
- GDP rate
and Taylor rule is that when GDP is equal to potential GDP and inflation rate is at its target rate of 2%
and the federal funds target rate should be 4%
so we can say here correct option is D raise the fed funds rate by 0.5% if inflation rises 1% above its target of 2%
The person that originally introduces the bill is called<span> the sponsor.</span>
They were able to get things quickly and more efficiently as this is a much faster process capable of producing higher volumes with less money.
