In case of the textile industries of England in 1811, the invention of new technology that allowed workers to complete tasks in minutes that had previously taken hours, resulted in a(n):
A) increase in the demand for labor in the textile industries.
B) increase in the quantity demanded of labor in the textile industries.
C) decrease in the demand for labor in the textile industries.
D) decrease in the quantity demanded of labor in the textile industries.
Question 2
According to this Application, if the volatility of energy prices led to expectations of declining real GDP, investment spending at that time would tend to decrease.
This relationship between the decrease in investment spending and the expected decline in real GDP would be expressed by the
A) present value theory. B) liquidity principle.
C) accelerator theory. D) real-nominal principle.
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