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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Communism provides the only real solution to economic problems.
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Unemployed workers should rely on the states rather than on the federal government for help.
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The United States reached its economic peak in the 1920’s and is now a declining industrial power.
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The economy sometimes needs public money to encourage business activity.
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Detailed explanation-1: -Which statement best illustrates a basic idea of President Franklin D. Roosevelt’s New Deal? (4) The economy sometimes needs public money to encourage business activity.
Detailed explanation-2: -The programs focused on what historians refer to as the “3 R’s": relief for the unemployed and for the poor, recovery of the economy back to normal levels, and reform of the financial system to prevent a repeat depression.
Detailed explanation-3: -FDR embraced Keynesian economic policies and fought to expand the role of the federal government in the nation’s economy. FDR implemented a series of projects and programs called the New Deal to stabilize the economy. Despite FDR’s New Deal, the Great Depression persisted into the late 1930s.
Detailed explanation-4: -By 1933, one in four Americans was out of work by 1933 (one in three in the private sector) – roughly 15 million workers. The New Deal created a multitude of agencies that provided over 10 million jobs for the unemployed, whose wages saved millions of families from destitution. Unemployment was reduced to 10% by 1942.