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Boom and Bust: The American Economy 1910-29 Flashcards | StudBud
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Boom and Bust: The American Economy 1910-29
Boom and Bust: The American Economy 1910-29
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Answers
1
What were the advantages of domestic products such as vacuum cleaners being mass produced?
Prices were low
They were not very good quality
More people could afford them
More employment
2
Under which President did many Americans prosper?
Calvin Coolidge
Woodrow Wilson
Warren G Harding
3
Republicans kept taxation.....
As low as possible so people would spend money on US goods
As high as they could
4
What was a Ford assembly line?
A conveyor belt that moved car parts around the factory
A line of pupils lining up to go in the hall
5
How did the over-production of food affect the farmers?
Lower incomes
Higher incomes
6
'Laissez faire' means.....
The government should interfere as little as possible
The government should interfere as much they can
7
How much money did bankers spend to try and restore confidence in the stock market?
$40 million
$50 million
$20 million
$30 million
8
How many banks closed because of the Depression?
1616
1818
1717
2020
9
What percentage was required as a deposit to buy a share on the stock market?
7%
5%
10%
15%
10
For some the 1920's were a period of hardship. What % of people earned less that $2000 a year?
50%
30%
60%
20%
11
How many Americans were unemployed by 1932 because of the Depression?
10 million
12 million
13 million
5 million
12
During the 1920s the electrical industry boomed. What % of Americans had electric lights?
70%
55%
60%
80%
13
What date was 'Black Tuesday'? (Panic buying of shares and the collapse of the stock market)
Tuesday 28th October
Tuesday 29th October
Tuesday 31st October
Tuesday 30th October
14
How much money was made from radio sales in 1929? (This helped to boost the economy)
$500 million
$200 million
$600 million
$100 million
15
How could people on low incomes afford to spend money on new consumer goods in the 1920's?
They could buy on credit
The average pay of workers had doubled during the 1920's
They had saved money
16
What happened as a result of Ameica's late entry into the war?
She fell out with her Allies
It's resources were not drained
17
Why couldn't Woodrow Wilson stand for re-election in 1920?
He had a stroke and was too ill
He was worried he didn't have the support of the Democrats
He didn't want to run for President again
18
Henry Ford 'standardised' all of his cars. What does this mean?
He produced cars of lost of different colours
All of Henry's cars were unique and individual
He produced cars in only one colour with one engine size
You could choose any engine size
19
Under which President did the Depression begin to take hold?
Herbert Hoover
Calvin Coolidge
Warren G Harding
20
Which industries were badly affected by the development of new technologies?
Oil
Electricity
Coal
Cotton
21
In which year did America enter the First World War?
1916
1918
1914
1917
22
The wealth of American was......
Evenly spread
Unevenly spread
23
What were Trusts?
Huge super-corporations which dominated industry
Funds set up to help the public
24
Farmers mortaged their homes to try and make ends meet. How many ended up losing their farms?
200,000
400,000
500,000
600,000
25
What was the Fordney-McCumber Tariff?
A tax on foreign goods imported into America
A tax on goods leaving America
26
Why did Presidents do nothing to regulate the stock market?
They believed in laissez faire
They didn't have any free time
They couldn't be bothered
27
How many Ford Model T's were built between 1909 and 1928?
12 million
10 million
30 million
15 million
28
How many people committed suicide because of the Depression?
11,000
15,000
23,000
1,000
29
What were Tariffs?
Taxes which made it expensive to import foreign goods
Laws introduced to encourage people to spend
30
How did Henry Ford revolutionise the car industry?
He made the cars easier to produce and more affordable
The cars were very comfortable
He made cars of all different colours
31
'Rugged individualism' means......
People should be allowed to be themselves
People working hard for themseleves
Expressing your individualism
32
What party did Woodrow Wilson represent?
Democratic
Republican
33
By what percentage did the average wage rise between 1923 and 1929?
6%
5%
7%
8%
34
How many families lived below the poverty line by 1929?
12 million
6 million
13 million
5 million
35
How did the car industry make America prosperous?
Thousands of garages, gas stations and motels were needed
Cars made oil producers rich
It relied on America's steel, rubber and leather industry
They no longer had to catch the bus
36
What happened when confidence in the stock market began to evaporate in October 1929?
People began to buy more shares
People began to sell their shares
37
By 1929 how many Americans owned shares?
10 million
20 million
15 million
11 million
38
How did the over-production of goods affect the economy?
Workers wages lowered
Companies highered the prices of their products
Workers wages rose
Companies cut the prices of their products
39
Economic growth led to a greater demand for which buildings?
Skyscrapers
All of the previous answers
Office buildings
Factories
40
Buying shares in this way was known as 'buying on the......'
margin
line
