Which of the following best describes the economic significance of the Pullman Strike of 1894?

• A. It marked the end of all strikes in the United States.
• B. It led to the immediate abolition of monopolies in the railroad industry.
• C. It resulted in the creation of the Federal Reserve System.
• D. It highlighted the impact of labor unions on wage negotiations and the role of government intervention in labor disputes.

Answer: (D)

Verified step by step guidance

1. Understand the historical context of the Pullman Strike of 1894, which was a major nationwide railroad strike in the United States involving labor unions and wage disputes.
2. Recognize that the strike demonstrated the power of labor unions to influence wage negotiations and working conditions, showing their economic significance in labor markets.
3. Analyze the role of government intervention during the strike, where federal authorities stepped in to resolve the conflict, highlighting the government's influence in labor disputes.
4. Evaluate the incorrect options by linking them to economic outcomes: the strike did not end all strikes, did not abolish monopolies, nor did it create the Federal Reserve System.
5. Conclude that the best description of the economic significance of the Pullman Strike is its illustration of labor unions' impact on wages and the government's role in labor conflicts.