The Economy Flashcards
1
Q
Bull Market
A
- wall street (stocks) is going very very well
- business is booming in the 1920s
- factories are producing more than ever
2
Q
mass production
A
- industry is booming
- the automobile is changing society
- “materialism” is becoming popular
3
Q
8-hour day
A
- established in wwi
- 3 shifts of workers
- 40-hour workweek (5 days of 8 hours)
- more time on your hands to enjoy life
- entertainment becomes part of life
4
Q
national debt
A
- u.s. debt was going down (business and government debt)
- consumer debt is going up (entertainment, cars, material items)
- “credit” spending is at an all time high
5
Q
republican era
A
- 1920s - republican presidents (harding, coolidge, hoover)
- little business regulations
- low taxes
- more of a government “hands off” approach to business
- democrats are hands on approach
6
Q
remember this…
A
too much of a good thing can be bad. the “roaring 1920s” will be wonderful - but it will not last forever. no one planned for any downturn. the great depression is looming
7
Q
the minute the stock market started to crash in the late 1920’s, a lot of people turned to the ________ for help
A
democrats
8
Q
in reference to stocks a _____ is when stock values decrease. this sometimes causes the stock market to crash
A
bear market
9
Q
president _______ once made the statement that the United States would never experience hard times again
A
hoover
