1921-1929: Prosperity Flashcards
Which % of people lived in cities by 1920?
15%
What did the spread of suburbia do?
Fuel the automobile revolution
Give some examples of increased standard of living 1920-30
Ownership increased:
Flushing toilets up 20%
Central heating up 40%
Lighting doubled
Which % of homes had electricity by 1930?
85%
Which % of people had vacuum cleaners?
30%
How many people had washing machines?
24%
Which % of people had fridges?
8%
Which % of furniture was bought on hire purchase?
60%
When was the 1st radio station formed?
1920 - KDKA
How many radio stations were there by 1930?
556
What did the radio stock price increase by?
1000%
When was the 1st ‘talkie’?
1927
How many films were made annually?
Between 800-1000
How many cinemas were there by 1930?
17,000
How many cars were there by 1929
27 million
Which % of people were employed in automobile/supporting industries by 1929?
10%
What did the cost of the Ford Model T reduce by and why?
Mass production - $860 in 1908, $360 in 1916
Which % of people were still in poverty?
60%
Who were the main benefactors from the boom?
Big business
Whites, middle and upper classes
Rural America struggled - reliance on agriculture, not affected by consumer goods
What was an issue with laissez-faire policy?
Allowing monopolies increased prices
How much was the Ford Model T production time reduced?
From 14 hours to 1.5 hours
How much did Ford pay his workers per day?
$5
What did the introduction of Daylight Saving Time do?
Increase production
How much was credit worth by 1930?
$9 billion
What were the reasons for the Boom?
Laissez-faire policy Mass production Effect of WW1 Technology Tariffs Credit Mass-marketing Taxes Confidence Resources
Which % of cars were sold on credit?
75%
Give an example of American interest in foreign economies
In 1927, 85% of tractors in Russia were American
Private investment in other countries was worth $17,200million by 1930
Rubber industry in Liberia
What did industry profit increase by?
60%, but wages only increased 8%
