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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new and exciting electrical appliances
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the growth of installment plans
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the automobile
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modern day advertising
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Detailed explanation-1: -The growth of the automobile industry caused an economic revolution across the United States. Dozens of spin-off industries blossomed. Of course the demand for vulcanized rubber skyrocketed. Road construction created thousands of new jobs, as state and local governments began funding highway design.
Detailed explanation-2: -The automobile gave people more personal freedom and access to jobs and services. It led to development of better roads and transportation. Industries and new jobs developed to supply the demand for automobile parts and fuel. These included petroleum and gasoline, rubber, and then plastics.
Detailed explanation-3: -Currently, the automobile industry contributes 7.1% of India’s GDP and 49% of its manufacturing GDP. The EV market is expected to grow at CAGR of 49% between 2022-2030 and is expected to hit 10 Mn-unit annual sales by 2030. The EV industry will create 50 Mn direct and indirect jobs by 2030.