How does less taxes and tolls affect the amount of money in everyone's pocket? How would this help start the Industrial Revolution?

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Answer 1
Answer:

According to microeconomic theory, fewer taxes and tolls would affect the amount of money in everyone's pocket by increasing the level of money people possess.

This is because fewer taxes and tolls will mean people will retain more money or have more money to spend for their needs and wants.

On the other hand, this situation would help start the Industrial Revolution. When capitalists had more money to spend, they would invest in more advanced technological gadgets that would make production more taste and easier.

Also, people would have more money to buy modern gadgets to use at home and work.

Hence, in this case, it is concluded that fewer taxes and tolls tend to start the industrial revolution in the country.

Learn more about the taxes and tolls here: brainly.com/question/2038151


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