USA HISTORY

Detailed explanation-1: -Answer. The economy of the United States during the 1920s moved through a phase of ‘Expansion’. Further Explanation: It was the period of the 1920s when the United States saw the period of expansion in almost all fields such as Technology and Finance.

Detailed explanation-2: -The recession lasted from January 1920 to July 1921, or 18 months, according to the National Bureau of Economic Research. This was longer than most post–World War I recessions, but was shorter than recessions of 1910–1912 and 1913–1914 (24 and 23 months respectively).

Detailed explanation-3: -Many major economies face maturing business-cycle trends due to persistent inflationary pressures, slowing industrial activity, and tightening monetary and financial conditions. The U.S. is in the late-cycle expansion phase, with a rising likelihood that a recession may be on the horizon in 2023.

Detailed explanation-4: -The 1920s was a period of vigorous economic growth in the United States. That decade marked the beginning of the modern era as we know it. 1920s prosperity also gave rise to new ideas and ways of thought.

Detailed explanation-5: -The Roaring Twenties was a period in American history of dramatic social, economic and political change. For the first time, more Americans lived in cities than on farms. The nation’s total wealth more than doubled between 1920 and 1929, and gross national product (GNP) expanded by 40 percent from 1922 to 1929.