Postwar Economy Booms
T or F
Immediately following the great war, the U.S. economy flourished hence why the unit is called the "roaring 20's"
False
The Consumer Revolution can be defined as...
period of time when there was a flood of new and affordable goods being made available to the public.
Warren G. Harding largely won the election of 1920 due to promoting his "Rejection" of this person's idea's...
Woodrow Wilson
What is an Armistice?
It is an agreement to stop fighting (Peace)
Provide a few key descriptors of Warren G. Harding.
Outgoing, Likeable, Not the sharpest
Why were women and African-
Americans met with a competitive job market after the war?
Soldiers returned home and needed jobs, temporary wartime jobs ended.
Magazine/Newspaper ads changed their tactic to increase readership, what was their tactic?
Targeting the fears and desires of the consumer
The Washington Naval Disarmament Conference decided to...
This term refers to purchasing stocks on credit...
Buying on Margin
Explain how the U.S. Highway system is numbered.
Odd numbers run North/South
Even numbers run East/West
Bonus: Triple digits are major interstate connectors
Henry Ford revolutionized Mass Production, driving U.S. economy growth, primarily with these TWO contributions...
Model T, Assembly Lines
During the 1920's the U.S. experienced a ___ ______, or a period of rising and consistent stock prices.
Bull Market
(WORTH 2X!!!!)
Explain the Teapot Dome Scandal, and its significance when it comes to Harding's legacy.
Secretary of Interior (Fall) takes Navy Oil reserves and is bribed by private oilmen for oil in return for "Loans". Harding went from being mourned to immediately condemned after his death.
What is installment Buying?
Making a down payment, proceeded by monthly payments with interest. Typically used for large purchases.
The Dawes Plan stated what?
Germany owed Britain/France reparations for WWI and the U.S. loaned them money for it.
Ford increased efficiency by hiring experts in this field...
Scientific Management
African-Americans moved north seeking better economic opportunities and fit in society. This also known as...
The Great Migration
Harding who to be the secretary of treasury? Why was this hire significant?
Andrew Mellon, he was a wealthy banker instead of a government official. Economy emphasis.
The Kellogg-Briand Pact was another attempt at preventing future wars, what did it state?
War is illegal.
A Creditor Nation can also be described as a nation..
That is owes less money to other countries than other countries owe them. (Bank)
What was the Model T and how can you attribute it to economic growth?
The first reliable, affordable car for the average consumer. Improved mobility increasing consumerism.
Suburbs eventually began draining people/resources from the cities, how?
More people could afford nicer living conditions and could afford to commute.
Calvin Coolidge (Silent Cal) faced criticism because of this belief...
He did not believe any legislation could create social change, he stayed silent on those issues.
Provide synonyms for each of the following: Urban, Suburban, and Rural.
Urban: City
Suburban: Residential/Neighborhood
Rural: Farm/Country
Explain, to the best of your ability, what inflation is
Rising prices due to increasing demand and little supply. (More money than stuff)