What Was the Simplest and Quickest Way for America to Industrialize

question 46

Multiple Choice

What was the simplest and quickest way for America to industrialize in the late-eighteenth and early-nineteenth centuries?

• A) copy British technology
• B) develop American technology
• C) import British raw materials
• D) focus on the iron-smelting industry

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Definitions:

Interest Charges

The costs incurred for borrowing money, calculated as a percentage of the total amount borrowed.

Management Reserves

Budgetary allocations set aside for unforeseen changes in the scope and cost of a project.

Contingency Reserves

Allocated budget within a project to address unforeseen costs or risks that may arise.

Budget Baseline

A reference point in the project budgeting process that represents the approved plan for project expenditure, against which actual costs are measured.