Using economic analysis and the production possibilities curve, explain what happened to the production of capital and consumer goods as a result of the Industrial Revolution in the 1850s. Prior to the Industrial Revolution, we were at 10% unemployment.

• a.)Explain the short-term and long-run consequences.
• b.)Prior to any changes where is the economy in relation to unemployment?
• c.)Did the change that occurred affect resources, technology, or capital goods?

d.)After the change will the economy grow or shrink?