Us Macroecomics

Assignment 1

1. Identify key events in U.S. economic history.

2. Describe the rise of U.S. agriculture, including its successes and problems.

3. Describe the rise of US industry, including its successes and problems.

4. Summarize the U.S. twentieth century business cycle, including key turning points.

5. Identify key issues in the current U.S. economy.

6. Please compare and contrast the differences and similarities between the Great Depression (1930's) and Great Recession (2007) of the US economy.

Answers

1. U.S. economy history:

• In the 19th century the abundance of land was the most influential factor for millions of immigrants to come to US.

• After civil war mayor industrial expenses growth. South remain primarily an agricultural region until 1960’s.

• In 1850 US. Started construction of rail road along US, by that time U.S. Had only 10000 miles, and by 1890 it was 164000 miles.

• By the end of WWII the US emerge the world leading industry power due to;

 Technological talent.

 US export most of her Agricultural surpluses.

• 1920 brief depression.

• Stock market crashed in 1929.

• Economy hit bottom in March 1933, 25% unemployment.

2. US Agriculture:

• US grew from be primarily an agricultural nation in 1789 with a 4 million population to an industrialized power of 300 million people in 2007.

• Agriculture is one of the productive sectors of our economy.

• In the start of the revolution nine out of ten Americans lived on a farm, now 2 out of a hundred live on a farm.

• Today fewer than two in one hundred.

• By the end of WWI, agriculture played a minor role in economy.

• The average farm has gone from 139 acres to 435 acres.

3. US industry:

• Beginning of 20th century US shift to manufacture industry, after the civil war US experienced the major industrial expansion growth.

• In 1850 US. Started construction of rail road along US that contributed to the success of the US industry such as; mass...