Causes of 1920s prosperity
One of the Republican presidents of the 1920s who followed laissez-faire economic policy, keeping government out of business decisions
Who are Harding, Coolidge, or Hoover?
During the 1920s, the United States experimented with a ban on this consumer good
What is alcohol?
The ability of a customer to obtain goods or services before payment
What is credit?
This country's government focused on laissez faire economic policy during the 1920s
What is the United States of America?
Fear triggered mass sell-offs
What is panic selling?
This modern production technique started by Henry Ford revolutionized factories
What is mass production or the moving assembly line?
Many Americans left rural areas for urban cities for these reasons
What are farm closures or jobs in cities?
The state of owing money
What is debt?
This country struggled to pay back reparations for WWI
What is Germany?
Loss of speculative stock value, closures, and layoffs
What is collapse or failure of businesses?
Buy this refrigerator now for $300 or $360 over 36 months!
What is buying with credit, installment plan, or buy now pay later?
The movement of many African Americans from the South to northern cities
What is the Great Migration?
The extent to which income (money earned) is distributed unevenly among a population
What is income inequality?
This country reliance on exports to and investment from the US made it vulnerable
What is Canada?
Banks stopped lending; more failures
What is the collapse of credit?
Secretary of the Treasury Andrew Mellon believed in trickle-down economics and that the rich should stay rich, so he implemented this policy
What are tax cuts?
What new business method took over radio, newspapers, and movies to encourage constant consumption of new products?
What is advertising or marketing?
a tax or duty to be paid on a particular class of imports or exports
What is a tariff?
Once an industrial leader, this country fell behind Germany and the United States in the 1920s
What is Great Britain?
People no longer trusted banks, business, or government
What is the loss of confidence in the US financial system?
Despite cheaper and more widely available appliances like vacuum cleaners, refrigerators, and toasters, not all Americans could use them
What is income inequality OR access to electricity?
The Florida land boom and stock speculation are examples of this
What are get-rich quick schemes?
an illegal agreement between competing businesses to set prices, stabilize them, or control price levels, rather than letting market competition determine costs, leading to higher prices for consumers, stifled innovation, and reduced choices
What is price fixing?
This country had some growth from foreign investment but uneven wealth and continued rural poverty.
What is Mexico?
29 October 1929
What is Black Tuesday or the day that the stock market crashed?