Causes of the boom Flashcards
1
Q
Name 4 out of 7 reasons for the causes of the boom in 1920’s America?
A
Automobiles = cars
Cycle of prosperity = more sales, production, wages and spending
Consumer goods = fridges/radios/telephones
Stock market = Wall Street
Laissez-faire = the government leaving business men alone to take care of their own money
Tariffs = encouraging people to buy American the government put taxes of foreign goods
2
Q
How did tariffs cause the economic boom?
A
By putting taxes on none American products it meant that more people would buy American made products as it was cheaper.
This meant the economy rose
3
Q
How did Laisez-faire cause the economic boom?
A
It let business men do whatever they wanted and now have to worry about the government getting involved
