USA HISTORY

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: -There was hardly any unemployment, so people had money to spend in the shops. There were new and attractive things to buy. Mass production meant radios, washing machines, vacuum cleaners, fridges and cars, which only the very rich could have bought in the past, could now be made more cheaply.

Detailed explanation-3: -Summary and definition: The Economic boom in the 1920’s was a period in American History often referred to as the Roaring Twenties. This period of economic boom was marked by rapid industrial growth and advances in technology.

Detailed explanation-4: -Real GNP growth during the 1920s was relatively rapid, 4.2 percent a year from 1920 to 1929 according to the most widely used estimates. (Historical Statistics of the United States, or HSUS, 1976) Real GNP per capita grew 2.7 percent per year between 1920 and 1929.

Detailed explanation-5: -The American economy’s phenomenal growth rate during the ‘20s was led by the automobile industry. The number of cars on the road almost tripled between 1920 and 1929, stimulating the production of steel, rubber, plate glass, and other materials that went into making an automobile.