1920's economic boom

Question 1

how many goods sold in 1920 were hire purchase?

Answer 1

1/2 of all goods

Question 2

what did credit and hire purchase cause?

Answer 2

more people buying things created creditmass market

Question 3

by 1929 how much of goods were sold on credit?

Answer 3

$7 billion

Question 4

how many cinema tickets were sold in 1929?

Answer 4

80 million

Question 5

how much was the trade with allies in 1916 during ww1?

Answer 5

$3.2 billion (mostly munition)

Question 6

what do food production increase to during WW1?

Answer 6

12.3 million to 18.6 million a year

Question 7

how much of the world oil did the US consume and produce by 1920?

Answer 7

70%

Question 8

how many cars were produced by 1929?

Answer 8

4.5 million

Question 9

when did ford first use an assembly line?

Answer 9

1913

Question 10

what did ford pay his workers?

Answer 10

$5 a day (8hrs)

Question 11

what did ford reduce prices credit?

Answer 11

• $850 in 1914
• $295 in 1916
  (also led the way to using credit)

Question 12

how many people did the car industry employ?

Answer 12

5 million (80% of rubber and 75% of glass)

Question 13

what did confidence in the stock market cause?

Answer 13

increased the price of shares

Question 14

what were shares in 1926 and 1927?

Answer 14

451 million and 577 million

Question 15

what was the bull market on wall street?

Answer 15

where prices were rising or expected to rise

Question 16

how many shares were sold on wall street in 1926?

Answer 16

1.1 billion

Question 17

when was the wall street crash because of a lack of confidence?

Answer 17

1929

Question 18

what did the development of electricity cause?

Answer 18

• cheap reliable power for factories ad other things

- the invention of things like fridges, vacuums and radios

Question 19

what did conveyer belts help with?

Answer 19

mass production

Question 20

how much of the nations wealth did the largest 200 corporations have by 1929

Answer 20

20%

Question 21

what did Coolidge’s laissez-faire attitude show?

Answer 21

low tax and few regulations which caused industry and profits to increase

Question 22

what did Hoover believe in?

Answer 22

rugged individualism (made him electricity during the depression

Question 23

what was conveyer?

Answer 23

tariffs on imported goods to limit foreign competition (encourage purchase of local produce)

Question 24

what was the 1922 Fordney and tariff act?

Answer 24

raised import tariffs to highest ever

Question 25

How much did Mellon give to large corporations in tax reductions?

Answer 25

$3.5 billion

Question 26

what was consumerism encouraged by?

Answer 26

the 1920’s boom

Question 27

how many homes had electric by 1912 and 1927 (encouraged by consumerism)?

Answer 27

16% in 1912

2/3 in 1927

Question 28

how did consumerism increase female employment?

Answer 28

vacuums and washing machines meant women could also have jobs

Question 29

how much was spent on adverts in 1929?

Answer 29

$3 billion (5 times that in 1914

Question 30

how did the 1923 agricultural credit act help farmers?

Answer 30

created 12 credit banks for loans for farms working together to produce goods

Question 31

how did the 1922 fordney Mccumber tariff act effect farmers

Answer 31

very high tariffs foreign goods so more bought local (international exports suffered)

Question 32

what was the 1924 McMary- hagen bill do for farmers?

Answer 32

• government offered tout crops at higher 1920’s rice and sold it abroad
• doest stop problem of overproduction (other other farms didn’t reduce production the ones that did would lose out)