USA HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -Which statement best describes the American economy in the late 1920s? High tariffs stimulated international trade.

Detailed explanation-3: -Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.

Detailed explanation-4: -The consumer economy ground to a halt, and an ordinary recession became the Great Depression, the defining event of the 1930s.