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Questions and Answers
What economic trend characterized the 1920s in America?
What economic trend characterized the 1920s in America?
- Decreased consumer spending
- Increased government regulation
- Stagnation of industry
- Economic prosperity (correct)
What was a primary function of the assembly line during this period?
What was a primary function of the assembly line during this period?
- To reduce factory costs by eliminating workers
- To ensure products were crafted by skilled artisans
- To simplify the manufacturing process by using machines (correct)
- To increase the number of product variants produced
How did credit influence consumer behavior in the 1920s?
How did credit influence consumer behavior in the 1920s?
- It led to more savings among consumers.
- It discouraged borrowing for purchases.
- It restricted access to essential goods.
- It allowed for immediate consumption of goods. (correct)
What was a significant outcome of the capitalist boom in the 1920s?
What was a significant outcome of the capitalist boom in the 1920s?
Which of the following values is NOT associated with the American Dream?
Which of the following values is NOT associated with the American Dream?
What was the government's stance during the economic boom of the 1920s?
What was the government's stance during the economic boom of the 1920s?
What challenge did the events of the 1920s pose to capitalism in the USA?
What challenge did the events of the 1920s pose to capitalism in the USA?
How did the capitalist boom impact the American workforce?
How did the capitalist boom impact the American workforce?
What was a significant cause of the Wall Street Crash in 1929?
What was a significant cause of the Wall Street Crash in 1929?
Which factor contributed to the economic boom in America during the 1920s?
Which factor contributed to the economic boom in America during the 1920s?
How did the Model T Ford impact American society in the 1920s?
How did the Model T Ford impact American society in the 1920s?
What was one impact of the Wall Street Crash on American capitalism?
What was one impact of the Wall Street Crash on American capitalism?
What role did the car industry play in America's economic expansion during the 1920s?
What role did the car industry play in America's economic expansion during the 1920s?
What was the primary result of the capitalist boom preceding the Wall Street Crash?
What was the primary result of the capitalist boom preceding the Wall Street Crash?
What was one of the societal consequences of the Wall Street Crash?
What was one of the societal consequences of the Wall Street Crash?
Which of the following was a response by the American government to the collapse of the stock exchange?
Which of the following was a response by the American government to the collapse of the stock exchange?
What was a significant contributing factor to the Wall Street Crash of 1929?
What was a significant contributing factor to the Wall Street Crash of 1929?
Which economic condition is most directly associated with the Great Depression?
Which economic condition is most directly associated with the Great Depression?
How did the Wall Street Crash of 1929 impact the American economy in the following years?
How did the Wall Street Crash of 1929 impact the American economy in the following years?
What historical significance did the Great Depression hold for capitalism?
What historical significance did the Great Depression hold for capitalism?
Which of the following statements best describes the overall effect of the capitalist boom of the 1920s?
Which of the following statements best describes the overall effect of the capitalist boom of the 1920s?
What was one outcome of the American economy after the Wall Street Crash?
What was one outcome of the American economy after the Wall Street Crash?
How did the concept of the American Dream change in the context of the Great Depression?
How did the concept of the American Dream change in the context of the Great Depression?
Which economic principle was challenged by the events of the 1920s leading up to the crash?
Which economic principle was challenged by the events of the 1920s leading up to the crash?
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Study Notes
Capitalism in the USA 1900-1940
- Key Question: How did the events of the 1920s challenge Capitalism in the USA?
- Capitalism is based on private individuals or businesses owning capital goods. The production of goods and services relies on supply and demand in the free market.
- "The American Dream" is the belief that the government should protect each individual's opportunity to pursue their idea of happiness.
- Capitalist Boom of the 1920s in America was a time of economic prosperity known as the "Roaring Twenties".
- Consumer goods like food, clothing, furniture, and electrical devices were becoming increasingly available.
- The assembly line was a system used in factories to assemble products more efficiently.
- Credit allowed people to buy goods and pay later.
- The Model T Ford was a very popular car in the 1920s due to its affordability and reliability.
- The car industry played a significant role in the economic boom.
- The Wall Street Crash of 1929
- The crash was caused by over purchasing of shares and the collapse of the Stock Exchange.
- Breadlines formed as people struggled to find food and shelter.
- Retrenchment led to people losing their jobs as companies downsized.
- Evictions occurred as tenants were unable to pay their rent.
- Mortgage bonds were loans taken out to buy homes.
- The Social and Economic Impact of the Crash
- The American government responded to the crisis by trying to address its wide-reaching consequences.
- The Great Depression was the economic crisis that followed the crash, lasting throughout the 1930s.
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