In Continental Europe, Industries Such as Iron, Construction, and Machinery

question 3

Multiple Choice

In continental Europe, industries such as iron, construction, and machinery were greatly stimulated by

• A) railroads.
• B) the Crimean War.
• C) the use of slave labor.
• D) the increase in literacy.
• E) American banking advances.

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Definitions:

Federal Budget Deficit

The financial situation when a government's expenditures exceed its revenues within a fiscal year, leading to borrowing or debt accumulation.

Inflation

The rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of money.

Unemployment

The situation in which individuals who are capable of working and are looking for a job are unable to find employment.

Federal Debt

A stock variable that measures the net accumulation of annual federal deficits.