Final answer:
During the Industrial Revolution, Europe's economy experienced an increase in both GDP and the standard of living, due to technological advancements, increased productivity, and more job opportunities.
Step-by-step explanation:
The impact of the Industrial Revolution on Europe's economy was profound, wherein both the Gross Domestic Product (GDP) and the standard of living experienced significant changes. The correct answer to the question 'What was the impact on Europe's economy during the Industrial Revolution?' is a) GDP and Standard of living increased.
During the Industrial Revolution, technological advancements and mass production techniques led to increased productivity, which in turn raised the GDP of European countries. Moreover, as industries grew, the demand for labor resulted in more job opportunities, which contributed to a rise in wages over time, thus improving the standard of living for many people. However, it is essential to note that these benefits were not evenly distributed, and early industrialization was also associated with poor working conditions, pollution, and societal upheaval.