Economic Developments: Changes in Society due to the 1920s Boom and impacts for the public Flashcards
What piece of legislation in 1922 was passed to protect American businesses?
The Fordney-McCumber Act
When was the Fordney McCumber Act passed?
1922
What did the Fordney-McCumber Act do?
It put tariffs up heavily
What industry did the Heinz family start producing for?
Hand cream business
Why did the Heinz family start producing hand cream?
Many women wanted to buy it
What was the increase in the hand cream market prominence a symbol of?
Women had more freedom
How many cars were there in American cities by 1927?
20 million cars
How many deaths from car accidents were there in 1920?
12,000 deaths
How many deaths from car accidents were there in 1930?
30,000 deaths
What form of buildings started to be built in USA cities?
Skyscrapers
What was the significance of the Chrysler skyscraper?
It was the first building to reach 1000 feet tall
Did the government intervene with health and safety regulations for construction of skyscrapers?
No
How many out of 5 construction workers died while building skyscrapers in the 1920s?
2 out of 5 construction workers
What did construction workers have to support them while they were 100s of feet up while building skyscrapers?
Nothing
What percentage of consumers bought things on credit?
80%
What was the situation with Americans having savings?
Very few Americans had savings
How many houses had radios in them in 1925?
5000 houses
How many houses had radios in them in 1927?
20 million houses
What did radios allow the public to do?
Get more up-to-date knowledge on news
What was the highest unemployment was at in the 1920s?
4%
How much did wages go up from 1920 to 1930?
30%
How frequently did the American GDP go up 2%?
Every year
