THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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African-Americans
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farmers
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steel producers
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middle-class business men
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Native Americans
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Detailed explanation-1: -Generally, groups such as farmers, black Americans, immigrants and the older industries did not enjoy the prosperity of the “Roaring Twenties”.
Detailed explanation-2: -Although these were prosperous times for many, some groups did not share in the good times of the 1920s. Farmers, African Americans, Native Americans and workers in some industries suffered from declining incomes and unemployment.
Detailed explanation-3: -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-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.