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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steel
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textiles
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rubber
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glass
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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 industry is dependent on various factors such as availability of skilled labour at low cost, robust R&D centres, and low-cost steel production. The industry also provides great opportunities for investment, and direct and indirect employment to skilled and unskilled labour.
Detailed explanation-3: -The rapid expansion of the automobile industry created jobs throughout the country and played a large role in sustaining the economic prosperity of the 1920s. In 1929, at the peak of the decade’s economic boom, there were more than 330, 000 people employed at automobile dealerships in the country.