What did the term 'Gilded Age' generally refer to in U.S. history?

The term 'Gilded Age' refers to a period in U.S. history during the late 19th century, characterized by significant economic growth, industrialization, and a notable disparity between the immense wealth of a small elite and the widespread poverty faced by many. This era saw the rise of powerful industrialists and financiers, often called "robber barons," who accumulated vast fortunes, while a considerable portion of the population faced harsh living and working conditions.

During the Gilded Age, urbanization accelerated as people moved to cities for work, leading to overcrowded living conditions and social issues such as labor unrest, corruption in politics, and economic inequality. The term itself, coined by Mark Twain and Charles Dudley Warner, suggests a superficial layer of prosperity that masked deeper social issues, thus highlighting the contrast between the wealthy and the underlying problems of society.

In contrast, the other options refer to different aspects of U.S. history or periods that do not encapsulate the essence of the Gilded Age. Agricultural decline, governmental reform, and a focus on rural societies do not accurately reflect the phenomenon of extreme wealth coexisting with significant social challenges that defined this era.