In Terms of Its Early Economic Development, the United States

Multiple Choice

In terms of its early economic development, the United States had at least two advantages that other countries could not easily match. One of these was an enormous amount of cheap capital in the form of land that was taken from Native Americans. What was the other?

A) The wages of U.S. laborers were lower than those of their European counterparts.
B) Britain provided much of the investment that financed the growth of U.S. industry.
C) The terms of trade were beneficial to American exporters.
D) New industrialized machinery was considerably more fuel efficient and less obsolete than European machinery stock.