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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Big business should be heavily monitored by the Supreme Court.
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States bear the greatest responsibility in regulating large corporations.
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The federal government should interfere with business as little as possible.
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Corporations should shoulder the majority of the country’s tax burden.
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Detailed explanation-1: -He presided over a strong economy and sought to shrink the regulatory role of the federal government. Along with Secretary of the Treasury Andrew Mellon, Coolidge won the passage of three major tax cuts.
Detailed explanation-2: -An apocryphal story has it that a person seated next to him at a dinner said to him, “I made a bet today that I could get more than two words out of you.” He replied, “You lose.” However, on April 22, 1924, Coolidge himself said that the “You lose” quotation never occurred.
Detailed explanation-3: -As America’s 30th President (1923-1929), Calvin Coolidge demonstrated his determination to preserve the old moral and economic precepts of frugality amid the material prosperity which many Americans were enjoying during the 1920s era.