In Terms of the Industrial Development of the United States

question 65

Multiple Choice

In terms of the industrial development of the United States in the late nineteenth century,the most important economic development was the

• A) introduction of the steam engine.
• B) introduction of the factory system.
• C) rise of trade unions.
• D) construction of railroad lines that linked all U.S. regions.
• E) vast increase in the merchant marine fleet for overseas commerce.

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Definitions:

Economic Thinking

An approach to analyzing problems that considers the allocation of scarce resources and the trade-offs involved in decisions.

Additional Benefits

Extra advantages or positive outcomes that accompany a primary benefit or result.

Marginal Cost

The financial outlay required to produce an additional unit of a good or service.

Gasoline

A transparent, petroleum-derived liquid that is used primarily as a fuel in most spark-ignited internal combustion engines.