Which Important Event Occurred in 1866, Largely Due to the Efforts

question 9

Multiple Choice

Which important event occurred in 1866, largely due to the efforts of Cyrus Field?

• A) The first permanent, underwater transatlantic telegraph cable was successfully laid, linking Europe and America.
• B) Russia sold Alaska to the United States.
• C) A United States naval squadron seized and laid claim to the Midway Islands.
• D) The first transcontinental railroad was completed, linking the east and west coasts of the United States.

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Definitions:

Recession

A spell of economic retrenchment characterized by a reduction in manufacturing and trade activities, typically signified by two successive quarters of GDP decline.

Inflation

How quickly the average cost of goods and services goes up, resulting in a decrease in the ability to purchase.

Economic Growth

A rise in the output of goods and services in an economy over a certain period, frequently assessed using GDP.

Federal Budget Deficit

The financial situation where the federal government's expenditures exceed its revenues within a given fiscal year.