The invention of the cotton gin ushered in the Industrial Revolution and began a long period of technological innovation.What did this technological change do the short-run supply curve?
A)It shifted the short-run aggregate supply curve to the left.
B)It shifted the short-run aggregate supply curve to the right.
C)It moved the economy up along a stationary short-run aggregate supply curve.
D)It moved the economy down along a stationary short-run aggregate supply curve.
E)It gave the short-run aggregate supply curve a negative slope.

Question

Quizplus · Accepted Answer

The invention of the cotton gin increased productivity and lowered the cost of producing cotton, leading to an increase in supply of cotton. This shift in technology led to a rightward shift in the short-run supply curve, as firms were able to produce more output at each price level.

The Invention of the Cotton Gin Ushered in the Industrial