Question 1 of 10
How did the Panama Canal benefit American trade?
A.
It made it cheaper and faster to ship goods.
B.
It allowed a higher volume of goods to travel.
C.
It improved trade relations with Latin America.
D.
It allowed the United States to dominate global trade
A. It made it cheaper and faster to ship goods.
The correct answer is A. It made it cheaper and faster to ship goods.
The correct answer is A. It made it cheaper and faster to ship goods.
To determine this, we can look at the purpose and impact of the Panama Canal on American trade. The Panama Canal is a waterway that connects the Atlantic Ocean to the Pacific Ocean through the narrow Isthmus of Panama. Its construction was completed in 1914, and it has since played a crucial role in international trade.
One of the main benefits of the Panama Canal for American trade is that it significantly reduced the time and cost of shipping goods. Before the construction of the canal, ships had to navigate around the southern tip of South America, which was a long and hazardous journey. The Panama Canal provided a shortcut, allowing ships to travel between the Atlantic and Pacific Oceans in a much shorter time, saving both time and money for American traders.
By reducing the shipping distance, the canal also increased the volume of goods that could be transported. This allowed American exporters to reach markets in the Pacific more easily, expanding their trade opportunities and increasing their competitiveness.
While the Panama Canal certainly improved trade relations with Latin America, it would be an oversimplification to say that it directly improved trade relations with the entire region, as trade relations involve many factors beyond the canal. Additionally, while the United States did benefit from the canal, the statement that it allowed the United States to dominate global trade is an overstatement.
Therefore, the correct choice is A. It made it cheaper and faster to ship goods.