Economic boom causes

Question 1

What are the 5 factors that caused the economic boom?

Answer 1

WW1
Consumer society
Republican gov policies
New ways to buy and sell
Growing industries and mass production

Question 2

WW1: What does isolationism mean in terms of WW1?

Answer 2

America stayed out of WW1 for first 2 years to allow America to prosper

Question 3

WW1: What did America ban to create more jobs and businesses richer?

Answer 3

Lend-lease
- banned loaning money to Britain and allies

Question 4

WW1: What effect did going into the war late have on America?

Answer 4

They became the produce of the highest % of the worlds basic goods. - far smaller impact than others.

Question 5

Consumer Society: How many homes had electricity compared to 1916?

Answer 5

in 1916: 15%
in 1927: 70%

Question 6

Consumer Society: What are 4 examples of ultra-modern gadgets that workers spent money on?

Answer 6

vaccuum cleaners
radios
toasters
refrigerators

Question 7

Consumer Society: What caused more jobs?

Answer 7

HUge demand in ultra-modern products

Question 8

Republican gov Policies: Who were the 3 presidents during the republican rule?

Answer 8

Warren Harding
Calvin Coolidge
Herbert Hoover

Question 9

Republican gov Policies: What was a free market policy?

Answer 9

believed they should leave the economy alone- laissez-faire
this meant big businesses were free to expand without being held back

Question 10

Republican gov Policies: In 1922 what policy did Harding introduce?

Answer 10

the Fordney-McCumber Tariff Act - protectionism
imposed tax on foriegn goods which meant they were more expensive than domestic goods which encouraged americans to buy locally

Question 11

Republican gov Policies: What is rugged individualism?

Answer 11

Hoover believed no one should depend on the gov and everyone should just work harder.

Question 12

New ways to buy and sell: Name 3 types of advertising campiagnes that were used to sell products.

Answer 12

Billboards
Newspapers
Magazines

Question 13

New ways to buy and sell: What was the ‘buy now, pay later’ scheme?

Answer 13

Hire-purchase
6 out of 10 cars were bought this way- ppl took advantage of this scheme

Question 14

Growing industries and Mass production: What industry had the biggest impact?

Answer 14

Motor

Question 15

Growing industries and Mass production: What % of steel, leather and rubber&glass was used by motor industry?

Answer 15

20%
65%
over 75%

Question 16

Growing industries and Mass production: what is mass production

Answer 16

an assembly line that produces items quickly
due to this goods became cheaper

Question 17

Did Growing industries and Mass production create new jobs?

Answer 17

yes