THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Harding’s fiscal policy caused taxes to ____ and government spending to ____
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increase; increase
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increase; decrease
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decrease; increase
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decrease; decrease
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Explanation:
Detailed explanation-1: -Secretary of the Treasury Andrew Mellon won passage of the Revenue Act of 1921, a major tax cut that primarily reduced taxes on the wealthy. Harding also signed the Budget and Accounting Act, which established the country’s first formal budgeting process and created the Bureau of the Budget.
Detailed explanation-2: -What did Warren Harding mean by his campaign phrase, “normalcy"? a return to the prosperity of pre-World War I. What economic model did Warren Harding support as president? free enterprise system.
There is 1 question to complete.