Economic Boom 1900-1918 Flashcards
What is the multiplier effect?
Where the boom of one industry hastens the growth of another.
What is an example of the multiplier effect in the US prior to 1914?
The growth of the car industry supporting that of the rubber and glass industries.
Which natural resources did the USA have plentiful supplies of?
Oil, coal, wood and iron.
What did immigration supply to America economically?
Cheap labour.
By what year was the US the world’s leading economy?
1918.
What were the effects of WW1 on European imports from the US?
Nations such as Britain and France bought much of their ammunition from America.
Which 20th century event had the greatest effect on American industrialisation and Mechanisation?
World War One.
In which industry did America overtake Germany over the course of the First World War?
The production of fertiliser and chemicals.
What is an example of the cycle of prosperity?
The development of the car industry supported tourism, and the industry that grew with it.
