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1.  It caused an increase in industry all along the Hudson River and made New York's ports more valuable. ... It allowed people and goods to move between Lake Erie and New York City and the east coast faster and more cheaply. 2. New York City became the busiest port in America and the city grew at an astounding rate.

Explanation:

an expansion is one of two basic business cycle phases; the other is contraction. the transition from expansion to contraction is a peak, and the changeover from contraction to expansion is a trough.

some american cities felt workers were being oppressed by business monopolies