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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Factories had a steady supply of cheap labor.
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Immigrants invested money to start new businesses.
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Farm production increased
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Demand for manufactured goods declined.
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Detailed explanation-1: -These claims suggest that immigrants contribute to economic growth by increasing the supply of (or attracting) capital as well as the supply of labor. Rosenberg (1972: 32–33) concludes that immigrants to the United States also brought European technology that increased the productivity of American industry.
Detailed explanation-2: -The researchers believe the late 19th and early 20th century immigrants stimulated growth because they were complementary to the needs of local economies at that time. Low-skilled newcomers were supplied labor for industrialization, and higher-skilled arrivals helped spur innovations in agriculture and manufacturing.
Detailed explanation-3: -The Industrial Revolution shifted from an agrarian economy to a manufacturing economy where products were no longer made solely by hand but by machines. This led to increased production and efficiency, lower prices, more goods, improved wages, and migration from rural areas to urban areas.
Detailed explanation-4: -The large migration of immigrants to North America allowed for a huge rise in the U.S. economy. Lots of factories started up in large cities like New York, Boston, and Chicago. Most of the immigrants that took these factory jobs started in the lowest level.