Factors behind the boom: a state of mind

Question 1

What did most Americans believe?

Answer 1

That they had a right to prosperity

Question 2

What was the main aim in life for many Americans?

Answer 2

1. Nice house filled with the latest consumer good
2. Good job
3. Plenty to eat

Question 3

What was seen as being American?

Answer 3

Consuming more and more

Question 4

In the decades before the war, what had been valued by Americans?

Answer 4

Thriftiness - being careful with money

Question 5

How did values shift in the 1920s?

Answer 5

From prioritising thriftiness to a belief that spending money was better

Question 6

How could the outlook of most Americans - business people, ordinary Americans - be summarised?

Answer 6

Confident

Question 7

Why is confidence crucial to an economic boom?

Answer 7

1. People are more likely to buy new things - knowing they will be able to pay for them later
2. People are more likely to invest than save - helping grow businesses
3. People are more likely to start new businesses if they know there are consumers out there willing to buy their goods