Production & Shopping
What new things were people buying?
Cars, radios, refrigerators, toasters, washing machines, vacuums, dishwashers
High Employment
Trust in stock
Rising Prices
Who created the assembly line?
Henry Ford
What government policy (term) did both Warren Harding and Calvin Coolidge have?
Laissez-Faire / Hands-Off
Explain interest, credit buying, and installment buying.
Credit and Installment Buying - buy something now, pay back over time with interest.
Interest - money paid on a percent of the money owed
What are the qualities of a bear market?
High Unemployment
Dropping Prices
Recession Near
Who was president before Calvin Coolidge?
Warren Harding
What method did Coolidge believe in when it came to the economy?
Trickle Down - give breaks to the businesses and hope it would lead to workers getting higher wages, better benefits, and more money to spend in their communities
Name one benefit and one drawback of the creation of the new inventions.
Benefit - made life easier for people, more leisure time, steel industry boomed
Drawback - manufactures overproduced products and they lost value
Why did people have trust in the stock market?
It was a bull market; prices were going up.
Although Calvin Coolidge was shy, what was he good at?
Name three things Coolidge did as president to benefit the economy
Lowered taxes, cut government spending, balanced the budget and raised tariffs
Name two benefits and two drawbacks of the new production techniques, like the assembly line.
Benefits - cheaper from producers, more affordable for consumers, could be produced faster
Drawbacks - replaced skilled workers with unskilled, machines replaced workers, workers lost their jobs
Who was getting involved in the stock market?
Everyone - not just businessmen and companies, the middle/working class as well
Why was Coolidge popular with the people?
He brought honesty and morals back to the White House.
Why would Calvin Coolidge oppose joining the League of Nations?
It would restrict him from placing tariffs on imported goods.