Economic boom of the 1920s Flashcards
1
Q
By 1929, how much was spent on goods using credit?
A
$7 billion
2
Q
What percentage of cars were sold on credit?
A
75%
3
Q
What percentage of household appliances were sold on credit?
A
50%
4
Q
What act raised tariffs on imported goods?
A
Fordney-McCumber Act (1922)
5
Q
In which years did the government reduce federal taxes?
A
1924, 1926 and 1928
6
Q
When did Henry Ford introduce mass production?
A
1913
7
Q
What act gave the government permission to build roads?
A
Federal Highway Act (1921)
8
Q
By 1929, what percentage of the workforce were employed by the motor vehicle industry?
A
7%
9
Q
By 1929, what percentage of all wages were paid by the motor vehicle industry?
A
5%
10
Q
In 1920, how many cars were there in the United States?
A
7.5 million
11
Q
In 1929, how many cars were there in the United States?
A
27 million
