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17 Cards in this Set
- Front
- Back
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What were the four Republican policies that helped to increase prosperity in the 1920's? |
Tariffs, (eg. The Fordney McCumber Tariff of 1922) Low taxation, Laissez-faire and Trusts |
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How did low taxation lead to the Boom? |
Low taxation meant people could keep the money they earned, meaning they had an increased amount of disposable income which they could spend on new consumer goods in the USA. Thus continued the cycle of prosperity. |
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What was hire purchase and how did it lead to the Boom? |
Hire purchase, or credit, allowed customers to buy products and pay for it over a length of time. This meant many people who could not initally afford products were using credit to buy these new consumer goods, increasing sales and profits in companies. |
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How many cars and radios were bought on credit? |
6/10 cars and 8/10 radios were bought on credit. |
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Who especially beneffitted from the Boom? |
New Industries, builders, North and West America and white middle - class Americans. |
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Who did not benefit from the Boom? |
Traditional industries, miners, farmers, rural Americans and black Americans. |
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What was the cycle of prosperity? |
The idea that increased production increases employment and disposable income which therefore leads to increased demand, and that this is a continuous cycle. |
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What was the Road Federal Act of 1916? |
An act that began a period of intense road building. It employed more people than any other industry for the next 10 years. |
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In 1920 how many silk stocking were being sold, and by the 1930's how many were being sold due to introduction of the substitute, Rayon? |
In 1920 silk stockings were considered a luxury item, and only 12,000 had been sold, but was Rayon was found this figure increased to 300 million in the 1930's. |
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What happened to American Industry in the 1920's? |
It boomed, and the output doubled. For every one fridge sold in 1921 there were 167 sold in 1929! |
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What was the effect of road building? |
New roads made it easier for cars to travel, and they gave rise to a new truck industry. In 1919 there were 1 million trucks, and by 1929 there were 3.5 million. |
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How many homes had electricity by 1929? |
In 1918 only a few home had electricity, but by 1929 almost all urban homes had it. |
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What was the Fordney McCumber Tariff? |
The Fordney McCumber Tariff of 1922 put a tax on all foreign goods to encourage trade within the USA, but other countries then responded with tariffs, making American goods difficult to sell abroad. |
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Why did the Republican Party adopt a policy of 'isolationism'? |
As during the 19th Century the USA had an open-door policy, by the early 20th Century Americans began to feel their country was full up. They saw the crowded slums teeming with immigrants and decided they had to put a stop to it. |
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What was the Red Scare? |
An increased fear of communism and other extreme ideas being spread through immigrants from Eastern Europe. |
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What was the Reed- Johnson Act of 1924? |
This stated the maximum number of immigrants to be 154,000, and the quota was reduced to 2% of those already in America in 1890. |
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Why did black and native Americans not benefit from the Boom? |
After WW1, competition for jobs had increased, and due to discrimination these were mainly taken up by white people. Native Americans were placed in reservations where the land was impossible to scrape a living off. |
