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 wage of U.S. laborers was lower than 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.

Question

Quizplus · Accepted Answer

Britain provided much of the investment that financed the growth of U.S. industry. This allowed the United States to import modern machinery and technology from Britain, which gave them an advantage in production and efficiency compared to other countries. Additionally, British investors were more willing to take risks on new ventures and provided much-needed capital for the growth of industries such as textiles, railroads, and mining.

In Terms of Its Early Economic Development, the United States