Question

describe United States economy today & back then? 8-10 paragraph

describe the united state economy today ?

Answer 1

the united state economy today................

The economic history of the United States is about characteristics of and important developments in the U.S. economy from colonial times to the present. The emphasis is on economic performance and how it was affected by new technologies, especially those that improved productivity, which is the main cause of economic growth. Also covered are the change of size in economic sectors and the effects of legislation and government policy.

Specialized business history is covered in American business history.

The higher birth rate was due to better employment opportunities. Many young adults in Europe delayed marriage for financial reasons. Also there were many servants in Europe who were not permitted to marry.[4] The population of white settlers grew from an estimated 40,000 in 1650 to 235,000 in 1700. In 1690,

there were an estimated 13,000 black slaves. The population grew at an annual rate of over 3% throughout the 18th century, doubling every 25 years or less.[5] By 1775 the population had grown to 2.6 million, of which 2.1 million were white, 540,000 black and 50,000 Native American, giving the colonies about one third of the population of Britain.

The three most populated colonies in 1775 were Virginia, with a 21% share, and Pennsylvania and Massachusetts with 11% each.

The economy.......................
The colonial economy of what would become the United States was pre-industrial, primarily characterized by subsistence farming. Farm households also were engaged in handicraft production, mostly for home consumption, but with some goods sold
The benefits of growth were widely distributed in New England, reaching from merchants to farmers to hired laborers.

The rapidly growing population led to shortages of good farm land on which young families could establish themselves; one result was to delay marriage, and another was to move to new lands farther west. In the towns and cities

, there was strong entrepreneurship, and a steady increase in the specialization of labor. Wages for men went up steadily before 1775; new occupations were opening for women, including weaving, teaching, and tailoring. The region bordered New France, and in the numerous wars the British poured money in to purchase supplies, build roads and pay colonial soldiers.

The main message in the first-quarter gain is that worries about an imminent recession, widespread just a few weeks ago, were overdone. The economic expansion that followed the Great Recession remains in place and is on track to celebrate its 10th birthday in June. A month after that, it could become the longest expansion in US economic history.

The current expansion is often thought of as weaker than those of the past, but this is largely why it has gone on for so long. Booms usually end because of runaway inflation, stock market and housing bubbles, or over-borrowing and mountains of debt. The 1990s expansion ended with the bursting internet stock market bubble.