Boom Flashcards
1
Q
What was the economic ‘boom’ in 1920s America?
A
The exponential growth of the US economy during the 1920s.
2
Q
By how much did the average wage of Americans increase by between 1920 and 1929?
A
8%
3
Q
What new type of production made by Henry Ford allowed for goods to be sold at a cheaper price?
A
Mass production
4
Q
What new type of buying was created allowing goods to be more affordable through paying in installments?
A
Hire purchase
5
Q
How many workers were employed by the car industry in 1929?
A
4 million
6
Q
How mang American’s lived below the poverty line in the 1920s?
A
60% (18 million)
7
Q
How much did the richest 5% earn?
A
33% of the wealth
8
Q
By the end of the 1920s, how many people were unemployed?
A
2 million
9
Q
What cycle was the USA experiencing during the Boom?
A
Cycle of Prosperity
