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Questions and Answers
The US economy grew by 40% in the 1920s
The US economy grew by 40% in the 1920s
True (A)
There were only 7000 millionaires in the US by 1929
There were only 7000 millionaires in the US by 1929
False (B)
The assembly line was an innovation ‘invented’ by Henry Ford
The assembly line was an innovation ‘invented’ by Henry Ford
False (B)
The USA imported most of its coal, oil, gas and agricultural produce, including livestock.
The USA imported most of its coal, oil, gas and agricultural produce, including livestock.
Without such a large population a consumer boom would hardly have been possible.
Without such a large population a consumer boom would hardly have been possible.
One problem the US had to overcome was its huge post WWI debt.
One problem the US had to overcome was its huge post WWI debt.
The US Foreign Policy of isolationism was very costly and hindered economic growth.
The US Foreign Policy of isolationism was very costly and hindered economic growth.
Wheat exports increased from 90 million to 300 million dollars.
Wheat exports increased from 90 million to 300 million dollars.
Ironically- the expansion of production of agricultural produce came to be a problem post war.
Ironically- the expansion of production of agricultural produce came to be a problem post war.
Farming income fell in the course of the 1920s from 22 billion to 13 billion dollars.
Farming income fell in the course of the 1920s from 22 billion to 13 billion dollars.
There were three REPUBLICAN Presidents in the 1920s – Warren Harding, 1920-23, Calvin Coolidge, 1923 -28 and Herbert Hoover, 1928 - 32.
There were three REPUBLICAN Presidents in the 1920s – Warren Harding, 1920-23, Calvin Coolidge, 1923 -28 and Herbert Hoover, 1928 - 32.
Republicans had a policy of laissez-faire meaning government should impose significant regulations on businesses and financial institutions such as the stock market and banks.
Republicans had a policy of laissez-faire meaning government should impose significant regulations on businesses and financial institutions such as the stock market and banks.
Republicans believed in import tariffs, making its expensive to
import foreign goods.
Republicans believed in import tariffs, making its expensive to import foreign goods.
Trade Unions had significant power in the 1920s, making it hard for businesses to grow quickly.
Trade Unions had significant power in the 1920s, making it hard for businesses to grow quickly.
A policy of high taxation ensured there was reinvestment and a consumer society.
A policy of high taxation ensured there was reinvestment and a consumer society.
Average wages increased - some by as much as 27%.
Average wages increased - some by as much as 27%.
The electrification of the assembly line was almost a significant as a second industrial revolution.
The electrification of the assembly line was almost a significant as a second industrial revolution.
An important technological development was the creation of Rayon.
An important technological development was the creation of Rayon.
In 1900 only 12,000 pairs of silk stockings were sold in the 1920s, RAYON, a substitute for silk meant by 1930 300 million pairs of stockings were sold!
In 1900 only 12,000 pairs of silk stockings were sold in the 1920s, RAYON, a substitute for silk meant by 1930 300 million pairs of stockings were sold!
The first cars were Costly and slow to build - built by blacksmiths and skilled craftsmen.
The first cars were Costly and slow to build - built by blacksmiths and skilled craftsmen.
4 million men were employed in the automobile industry
4 million men were employed in the automobile industry
The model T Ford epitomised the boom of the 1920s.
The model T Ford epitomised the boom of the 1920s.
The car industry created its own ‘cycle of poverty’
The car industry created its own ‘cycle of poverty’
Another significant technological breakthrough was the creation of BAKELITE, a synthetic plastic.
Another significant technological breakthrough was the creation of BAKELITE, a synthetic plastic.
Because of electricity there was a ‘revolution’ in the entertainment industries.
Because of electricity there was a ‘revolution’ in the entertainment industries.
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