This U.S. History quiz is called 'USA: 1919-1932 - The US Economy In The 1920s' and it has been written by teachers to help you if you are studying the subject at middle school. Playing educational quizzes is a fabulous way to learn if you are in the 6th, 7th or 8th grade - aged 11 to 14.
It costs only $12.50 per month to play this quiz and over 3,500 others that help you with your school work. You can subscribe on the page at Join Us
The American economy seemed to be booming during the 1920s, but the appearance was deceptive. Half of all American citizens did not share in the general prosperity, and the half who did enjoyed a fragile wealth.
|
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
Republicans were opposed to any state interference in the economy, believing that any problems would iron themselves out naturally
|
Foreign states replied in kind: thus the US found it harder to export its surplus goods abroad, leading to greater unemployment
|
||||||||||||||||||||||||
Many factories had assembly lines, with each worker carrying out only one or two tasks before the product moved on to the next stage
|
Failure to maintain installments meant forfeiture of the goods, no matter how much of the price had been already paid
|
||||||||||||||||||||||||
Many people, who had not been involved with the stock market before, were encouraged to buy, believing that the boom in share prices was bound to continue
|
This group never benefited from the 1920s economic boom, and suffered even worse when it came to an end. Many had borrowed heavily during the war, and found it hard to repay these loans after 1918
|
||||||||||||||||||||||||
Well before the great crash of 1929 not all of America's old, traditional industries prospered
|
Even during the boom years there was never full employment in the US
|
||||||||||||||||||||||||
There was a boom in consumer goods, and much disposable income was spent on entertainment
|
Black Americans suffered a high rate of unemployment, and were lower paid - even if they had jobs
|