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USA > Boom of the 1920s? > Flashcards

Boom of the 1920s? Flashcards

1
Q

Unemployment 1921

A

5million

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2
Q

Unemployment 1926

A

2million

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3
Q

What did unemployment never rise above 1920-29?

A

3.7%

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4
Q

Real terms average wage increase during 1920s

A

14%

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5
Q

$ spent by consumers in 1914

A

$4billion

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6
Q

$ spent by consumers in 1920s on average annually

A

$7billion

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7
Q

Number of millionaires in USA 1914

A

7,000

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8
Q

Number of millionaires in USA 1928

A

35,000

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9
Q

GNP in 1914, 1920 and 1929

A

1920 : $73bn

1929: $104bn

1932 : $59bn

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10
Q

Which industry was notorious for exploitation of child labour?

A

Textile industry

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11
Q

What did inflation never rise higher than 1922-29?

A

1%

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12
Q

What happened to average working hours during 1920s?

A

decreased

44 in 1929
47 in 1920

= gave americans more leisure time w more $ to spend

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13
Q

What happened to union membership during the 1920s

A

declined

1920: 4million
1929: 3million

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14
Q

What X2 notorious skyscrapers demonstrate prosperity build in 1920s

A

Empire State Building & Rockefeller centre

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15
Q

What did the Brookings Institute find in terms of inequalities?

A

60% living on annual incomes below $2000

0.1% of families at the top receive same income as 42% at the bottom

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16
Q

Evidence that employment was unstable

A

During 1st half of 1924 - 72% of workers unemployed at some point

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17
Q

Why did those who were not employed in the 1920s struggle?

A

no social welfare / unemployment benefit from laissez faire government

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18
Q

What did the number of women in education drop by in the 1920s

A

5%

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19
Q

how many domestic servants (women) in the 1920s?

A

70,000

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20
Q

How many female accountants in the entire US during the 1920s?

A

only around 100

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21
Q

How many of those in the House of Representatives were women in 1928?

A

2/435 in 1928

22
Q

What act which benefitted women was introduced in 1921 gave healthcare to pregnant women which went against their laissez faire government?

A

Shepard-Towner Act 1921

23
Q

What did prohibition do to grain demand?

A

reduced demand

24
Q

What did prosperity do to grain demand?

A

higher living standards = more can afford a meat based diet, so grain demand decreased

25
When did the wartime cotton boom collapse?
1920
26
What was one of the causes for the cotton boom collapse?
rise of synthetic fibres e.g rayon
27
What did the textile cotton workforce shrink by 1923-33?
90,000
28
What was a large hinderance to European countries in repaying their debts?
Prohibitive tariffs meaning they couldn't enter US market to export their goods
29
When was the Debt Funding Commission formed?
1922
30
What did the Debt Funding Commission allow for?
agreement w britain to pay $4600mil debt within 62years at lower interest rate
31
What X2 plans did USA agree with Germany to lend money to pay for reparations?
Dawes (1924) and Young (1929)
32
In the 1920's what was the rate of business failure?
3/4 of businesses fail
33
What happened to the number of vehicle companies 1920-30?
fell from around 110 to 44 | also due to mergers / monopolies
34
What % are estimated to be living close to subsistence in 1929?
80%
35
Hoover's quote on the 1920s
"we have in the 1920s decrease the fear of poverty, fear of unemployment..."
36
In 1926 how many shares were traded?
450million
37
In 1927 how many shares were traded?
577million
38
In 1929 how many shares were sold?
1.1billion
39
What was the average gain of common stocks in the 1920s?
16.5%
40
Scann's opinion on speculation;
"...wasn't gambling - it was an investment in the glorious American future"
41
why would confidence in the stock market disappear and the bubble burst?
realisation that actual value doesn't meet share value
42
1919-21 value of farm products falls from X to Y
falls from $10billion to $4billion
43
By what fraction did corn prices fall from their wartime high?
1/3
44
What did the value of farmland decrease by during 1920-29?
Fell by 30%
45
What act came into place that prevented manipulation of the grain market?
Grain Futures Trading Act
46
When did the Grain Futures Trading Act come into place?
1921
47
When did the Capper-Volstead Act come into place?
1922
48
What did the Capper-Volstead Act do?
farmers work together in cooperatives to facilitate production / marketing of agricultural products
49
When was the Intermediate Credit Act introduced?
1923
50
What was the Intermediate Credit Act?
established a credit system to provide agricultural loans to farmers on easier terms
51
When did Coolidge veto the McNary-Haugen bill?
1927

USA (33 decks)

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