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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an increase in European imports to the United States
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a decrease in federal taxes on new businesses
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the development of factories and new transportation networks
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a decline in the use of unskilled workers in factories
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Detailed explanation-1: -The construction of roads, canals, and railways in the 19th century accelerated the rise of the massive United States economy.
Detailed explanation-2: -A surge of technological innovations and inventions, like Thomas Edison’s incandescent lightbulb and Alexander Graham Bell’s telephone, fueled this economic growth.
Detailed explanation-3: -The U.S. economy grew rapidly after the Civil War, fueled by an astounding rise in wealth, wages, production, and corporate mergers, along with limited government regulation. The volume of stocks traded rose sharply with corporations’ need for investment capital and the development of new technologies.
Detailed explanation-4: -In the first half of the 19th century, an economic transformation known as the Market Revolution swept over the U.S. Its catalyst was a series of innovations in transportation and communication. The market revolution represented an acceleration of developments already underway in the colonial era.
Detailed explanation-5: -Many factors promoted industry, including cheap labor, new inventions and technology, and plentiful raw materials. Railroads rapidly expanded. Government policies encouraged growth, and large corporations became an important part of the economy.