Final answer:
New Amsterdam was renamed New York after being captured by the English in 1664, a change reflecting the city's strategic importance and subsequent growth due to transportation advantages like the Erie Canal.
Step-by-step explanation:
The city once known as New Amsterdam is now known as New York because in 1664, an English military expedition captured the city from the Dutch and renamed it in honor of the Duke of York. The growth of New York City can be attributed to several key factors which provided it an advantage in transportation, leading to its rapid population increase and economic dominance. Particularly of note is the construction of the Erie Canal in 1825, which allowed agricultural products from the Midwest to be transported to New York City for shipment to Europe, thereby boosting commerce and industry in the region. Over time, this growth continued with the city's advantageous geography and development of infrastructure, contributing to its status as North America's largest metropolis and the economic heart of the United States and Canada.