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was average income growth greater from the late 1940s to the mid 1970s or from the...

was average income growth greater from the late 1940s to the mid 1970s or from the mid 1970s to the late 1990s? What was one important source of strong income growth in the period you have identified?
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Answer #1

The highest average income growth was durring the period 1940-1970 rather than the late 1990s

After the end of worlds biggest disaster World war 2 , The US started a leadership in economy amoung some countries

US descovered new technologies

They started to develop new technologies which went far above in the market

This period of age was called GOLDEN AGE for US

US economy grew at an increment of 4%

The new technologies which included the automation was the major sources of income like feedback controllers

HOPE THIS HELPS

PLEASE COMMENT IF YOU HAVE ANY DOUBTS

THANKS

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