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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Industrial workers, because wages declined
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Corporations, because of stagnant economic growth
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Farmers, because crop prices fell
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Automobile manufacturers, because of too much competition
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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: -While most Americans enjoyed relative prosperity for most of the 1920s, the Great Depression for the American farmer really began after World War I. Much of the Roaring ‘20s was a continual cycle of debt for the American farmer, stemming from falling farm prices and the need to purchase expensive machinery.
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.