Railroads 122-124 (39) Flashcards
Which of the following decades saw the first
steam-powered rail transportation implemented
in the United States?
d. 1830s
In which decade did steam-powered rail travel
become more important than water travel in the
United States?
1850s
How many years after the end of the Civil War
was the First Transcontinental Railroad
completed?
4
The completion ceremony for the First
Transcontinental Railroad took place in the
present-day state of
Utah
Who won the Nobel Prize in Economics for his
work analyzing the impact of railroads on the
American economy in the 1800s?
Robert Fogel
Quantifying the effect of railroads on the
economic development of the United States in
the 1800s required the invention of
counterfactuals
Approximately what percentage of gross
national product (GNP) did railroads save the
United States in 1890 through the transport of
agricultural goods.
2%
Market integration is the process of
linking local markets to make a national market
The last two unconnected segments of the First
Transcontinental Railroad were joined at a
place called
Promontoy Summit
Which of the following pieces of infrastructure
first connected Ohio farmers and New York City
consumers in a single efficient market?
Erie Canal
Cheap high-speed passenger rail between two
cities would MOST directly equalize the cities’
costs of
labor
Between 1816 and 1820, wholesale wheat prices
in Cincinnati were
about twice the prices in Philadelphia and New York
Which of the following statements about
relative wholesale flour prices in Cincinnati,
Philadelphia, New York, and New Orleans is
TRUE?
Between 1816 and 1860, cincinatti had the largest percentage gain relative to New York
Between 1816 and 1860, wholesale wheat prices
in Cincinnati exceeded those in New York
zero times
Which of the following actions ceremonially
completed the First Transcontinental Railroad?
