Question

How did the Industrial Revolution increase the economic growth rate and income levels in the United States?

a) Decreased economic growth due to labor unrest.
b) Hindered income levels through automation.
c) Increased economic growth through technological advancements.
d) No impact on economic growth or income levels.

Answer 1

C.) the Industrial Revolution gave way to more technology and more industry to further economic growth

Answer 2

The Industrial Revolution increased economic growth and income levels in the United States through technological advancements and a self-reinforcing cycle of new inventions, investments, and profits.

Step-by-step explanation:

The Industrial Revolution had a significant impact on the economic growth rate and income levels in the United States. It led to increased economic growth through technological advancements. New inventions and investments generated profits, which in turn funded further new investment and inventions. This self-reinforcing cycle created opportunities for further profits and contributed to the rapid modern growth of the economy. As a result, the average GDP growth rate per capita in the leading industrialized countries has been about 2% per year over the past two centuries.