WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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there was a great boom in the economy and most everyone had jobs.
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there was a bust in the economy and many people couldn’t find jobs.
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most of the nation’s wealth was controlled by a small percentage of people while most others were very poor.
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immigrants made a lot less money than natural-born citizens.
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Detailed explanation-1: -The economy moved from agrarian to industrial; consumer goods were mass-produced and readily available. However, manufacturing was not the only industry that experienced growth. The railroad industry grew as the need to transport people and goods increased.
Detailed explanation-2: -While the rich wore diamonds, many wore rags. In 1890, 11 million of the nation’s 12 million families earned less than $1200 per year; of this group, the average annual income was $380, well below the poverty line.
Detailed explanation-3: -Corruption spread like a plague through the city, state, and national governments. Greedy legislators and “forgettable” Presidents dominated the political scene. True leadership, for better or for worse, resided among the magnates who dominated the Gilded Age.
Detailed explanation-4: -During this era, America became more prosperous and saw unprecedented growth in industry and technology. But the Gilded Age had a more sinister side: It was a period where greedy, corrupt industrialists, bankers and politicians enjoyed extraordinary wealth and opulence at the expense of the working class.