Final answer:
The Gilded Age marked a period of significant economic growth for some in the U.S., but was also characterized by extreme inequalities and widespread political and corporate corruption.
Step-by-step explanation:
The Gilded Age characterizes a period in late nineteenth-century American society known for rapid industrialization, stark economic inequalities, and prevalent corruption among politicians and corporate moguls. Novelist Mark Twain coined this term as a way to illuminate the era's issues in his satirical writing. The period saw vast wealth accumulation by a select few, often facilitated by favorable government policies with minimal intervention, and corruption in the form of graft and bribery was rampant. Despite the increase in wealth for some, the working class and the poor often experienced challenging living and working conditions, and efforts like the Populist movement arose to address these disparities and seek reform, though they faced significant challenges.