Natural
Resources that fueled American Industrialization
<span>1.
Iron ore: Used to create steel and pig iron.
Used for railroad ties, bridges, buildings.</span>
2.
Coal: with the invention of the steam engine, coal replaced wood in fueling the
steam engine and machinery used in various industries such as the steel
industry.
<span>3.
Oil: The ability to use a steam engine for oil drilling started an oil boom in
the United States. It helped with the creation of a
Petroleum-refining industry. Transformed
oil into Kerosene and later gasoline for the automobile</span>
Lumber:
Used to fuel the steam engines that were used on trains, steamboats, and in
industry for the new machines being invented that ran on steam.
<span> </span>
If one uses the data above (in billions of dollars), the Gross domestic product (in billions of dollars) for this economy equals $1,200.
<h3>What is the GDP about?</h3>
Note that:
GDP (Gross Domestic Product):
Thus it will be :
Consumption + Investment + Government expenditure + (Export - Import)
Which is:
GDP = 800 + 200 + 300 + (100 - 200)
GDP = $1200 billions
See full question below
Consumption expenditures $800
Investment expenditures 200
Government purchases 300
Exports 100
Imports 200
Wages 800
8) Refer to Table above. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200.
B) $1,600.
C) $1,400.
D) $1,200.
Learn more about GDP from
brainly.com/question/1383956
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C. Integrate is the answer PLZ MARK AS BRAINLIEST
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