Take the following as truth: The yeoman, or statesman, economy thrived for some 300 years, but with the rise in automation brought by the Industrial Revolution in the late 18th century, the demand for hand-crafted goods such as cloth plummeted machine-produced goods were more plentiful and considerably less expensive.
Then the following statement: "The economy of the statesman was strong until the demand for their products dropped." is true, false, or inconclusive?
Answer: True