1920s economy Flashcards
Howoften was a car built with Ford’s new assembly line
every 93 mins
How much did a Ford cost in 1924
$400
Unemployment and GDP growth 1922-29
Unemployment always under 4%
GDP grew 2%/yr
Which ad campaign encouraged women to smoke indoors
lucky strike
How was advertising revolutionised in the 20s
Companies brought in psychologists for targeted campaigns
Radio ownership growth 1920-1929
60k-10m
Car ownership growth 1919-1929
9m-26m
Between which years did the nation’s wealth double
1920-1925
What % of households had electricity by 1927
63%
How many Americans went to the cinema 1929
100m
Which industries were stagnating in the 1920s
Coal, railroads etc.
How many jobs were lost each year to mechanisation
2m
How many members did the AFL lose
1.7m
How much did wheat prices fall by 1920s
50%
How much did the value of farmland fall by
30%
How much did farmers earn in comparison to the national average
half
How much worth of loans had the banks given and how much in the federal reserves and what problem did this cause
$8bn vs $200m
if people wanted their money the banks didn’t have enough, so would have to call in loans
these people with the loans would either not have enough money to pay and the banks would fail, or they would pay then be broke
How much did stocks drop by on October 29
$26bn
GDP growth 1930
-8.5%
US exports 1913-1917
from $2.4bn to $6.2bn
hw many rifles had American factories produced for the war by 1918
3.5m
unemployment rate from 1914-1916
16.4% to 6.3%
total cost if US involvement in WW1
$33.5bn
4 ways the US payed for the war
22% of the cost was raised through tax on corporate profits
20% was raised through the creation of new money
58% was raised through borrowing from the public e.g ‘Liberty Bonds’
The rest through inheritance tax- 25%
