Final answer:
The assertion that the market revolution brought social and economic changes to the U.S. is true, as it transitioned from subsistence to commercial economies. Claims about federal spending growth are true, but U.S. control of the economy by world standards is not larger than other economies. Federal education spending is not higher than state and local levels, and the Panic of 1819 lowered faith in the Second Bank of the U.S.
Step-by-step explanation:
The statement that the market revolution brought many social and economic changes to the United States is true. The market revolution, which occurred in the early 19th century, significantly altered the economic landscape in America. It marked a shift from a subsistence economy to a more commercial economy, with increased focus on manufacturing and the movement of goods. This led to changes in social structures, labor systems, and economic practices, including the expansion of the cash economy, the growth of cities, and the emergence of new classes of workers and entrepreneurs.
Regarding federal spending and control, a number of claims can be addressed as follows:
- Federal spending has grown substantially in recent decades – True.
- By world standards, the U.S. government controls a relatively large share of the U.S. economy – False.
- A majority of the federal government's revenue is collected through personal income taxes – True.
Education spending at the federal level is not larger than that at the state and local level; this statement is false. In terms of the panic of 1819, it actually decreased the American people's faith in the Second Bank of the United States, so the statement is also false.