THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The gap between the rich and poor was widening.
|
|
|
Society became more conservative in how they expressed themselves.
|
|
|
The gap between the rich and the poor was closing.
|
|
|
Protective Tarriffs caused American made goods to be bought less.
|
Detailed explanation-1: -A major cause of economic inequality within modern economies is the determination of wages by the capitalist market. In the capitalist market, the wages for jobs are set by supply and demand. If there are many workers willing to do a job for a great amount of time, there is a high supply of labor for that job.
Detailed explanation-2: -Income inequality is defined as the difference in how income is distributed among individuals and/or populations. It is also described as the gap between rich and poor, wealth disparity, wealth and income differences, or the wealth gap. ( income inequality, 2015)
Detailed explanation-3: -Research indicates that high inequality reverberates through societies on multiple levels, correlating with, if not causing, more crime, less happiness, poorer mental and physical health, less racial harmony, and less civic and political participation.
Detailed explanation-4: -During the 1920s, there was a pronounced shift in wealth and income toward the very rich. Between 1919 and 1929, the share of income received by the wealthiest one percent of Americans rose from 12 percent to 19 percent, while the share received by the richest five percent jumped from 24 percent to 34 percent.