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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increase governmental regulation of commerce.
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reduce taxes on the wealthiest Americans and increase tariffs.
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raise taxes on all Americans.
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limit the number of companies that could apply for licensing.
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Detailed explanation-1: -The main reasons for America’s economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.
Detailed explanation-2: -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-3: -Which statement best describes the American economy in the late 1920s? High tariffs stimulated international trade.
Detailed explanation-4: -Old industries were in decline. Farm income fell from $22 billion in 1919 to $13 billion in 1929. Farmers’ debts increased to $2 billion. Sharecroppers were often destitute when cotton crops failed or prices fell.