[Online Document Assignment:]
EIA Activity: When Did the Business Cycle Begin?
Click on the links on the right to answer the following questions.
Use Link 1 to answer the following questions. True or False: U.S. farm employment increased 30% between1840 and 1860.
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True or False: Between 1840 and 1860, the U.S. gain in farm employment was twice the rate compared to the United Kingdom.
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Use Link 2 to answer the following question. True or False: Between 1840 and 2010, the percentage of the U.S. labor force in agriculture declined from nearly 70% to less than 10%.
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Use Link 3 to answer the following questions. True or False: Economic growth in the United States until 1870 was mostly associated with cultivating new lands.
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True or False: Until 1870, the United States was commonly described as an agricultural nation for most sections of the country.
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How can shifting from agriculture to manufacturing and mining significantly change the business cycle? Discuss.
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