THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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White Collar Class
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Lower Class
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Immigrant Class
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Middle Class
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Detailed explanation-1: -Pew defines “middle class” as those earning between two-thirds and twice the median American household income, which in 2021 was $70, 784, according to the United States Census Bureau. That means American households earning as little as $47, 189 and up to $141, 568 are technically in the middle class.
Detailed explanation-2: -The Golden Age of the middle class in America and across much of the rich world, was broadly the period from the 1950s to the 1970s. This was an era of rapid, broad-based economic growth.
Detailed explanation-3: -During the Gilded Age, male and female office workers expanded the ranks of the middle class. Larger incomes and increased leisure time among middle-class workers fostered a culture of consumption and popular amusements in American cities.
Detailed explanation-4: -In 1970, adults in middle-income households accounted for 62% of aggregate income, a share that fell to 42% in 2020.