Question

How did the Industrial Revolution increase the

economic growth rate and income levels in the United States?

Short answer

There are various reasons for this increase in economic growth.

Step-by-step solution

Step 1. Definition

Income level is defined as the economic payment received in return for the services provided and goods sold by the household, a person, or any other economic unit.

Economic growth is defined as the growth in the production of economic goods and services when we compare this from one period of time to another period of time.

Step 2. Explanation

The industrial revolution eased the substantial process of economic growth, which economists refer to as the modern economic growth period.

Because of this the productivity and trade and the development of governance and market institutions increase multiple folds.

Step 3. Conclusion

This happens because after the industrial revolution mass production permits the laborer a high degree of skillfulness and specialization which in turn increases the efficiency, effectiveness, and gains from the trade.