The Roaring Twenties

Flashcards about The Roaring Twenties in the USA, 1918-41

What was the increase in GDP in the USA during the Boom period?

GDP rose by 41% between 1921-1929.

What was the unemployment rate during the Boom in 1926?

Unemployment fell to 1.6 million in 1926

How did the USA benefit economically from World War 1?

The USA suffered less than European countries, took over export markets, and stimulated growth by exporting food and arms.

How did factory output change during World War I in the USA?

Factory output grew 35%.

How was the motor industry impacted by mass production?

Mass production decreased the cost of cars.

What was the cost of the Ford Motel T by 1924?

The Ford Motel T fell from $850-260 by 1924

What was the amount of cars and trucks in use by the end of the 1920s?

There were 26 million cars and trucks in use by the end of the 1920s

What policy did the government follow during the Roaring Twenties?

The government followed a policy of laissez-faire, not intervening in the economy.

What was the Fordney-McCumber Tariff Act of 1922?

It increased tariffs to the highest ever levels: average of 40%.

How did rising wages and consumer confidence affect spending?

People had more money to spend and were confident the economy would continue to grow, persuading them to spend more.

What impact did hire purchase schemes have on consumption?

Consumption was encouraged by hire purchase schemes: 8 out of 10 radios were bought on credit.

How did buying 'on margin' affect share prices?

Enabled millions of ordinary people to buy shares, greater demand increased prices further.

How was farmers affected by the limits of the boom?

Europe needed to import less food after the war and there was increased competition from Canada. Mechanisation led to huge surpluses and overproduction: wheat prices fell over 50%, 1919-23

What happened to farming income during the 1920s?

Farming income fell from $22 billion in 1919 to $13 billion in 1928 as prices collapsed.

How were workers affected by the limits of the boom?

Workers had long hours, poor conditions and restricted access to trade union representation, and also wage increase was less than the company profits.

What impact did the film industry have during the Roaring Twenties?

Hollywood became the centre of the movie industry around the world, earning $2 billion p.a.

What was the first 'talkie' film?

The Jazz Singer, starring Al Jonson, was released in 1927

Who were some popular Jazz musicians?

Louis Armstrong & Duke Ellington, who played at the Cotton Club, became famous

What was the affect of radios during the Roaring Twenties?

The number of radios grew from 60,000 to 10 million: families gathered around the radio at night

How was women affected in the Roaring Twenties?

The war gave women greater freedom which could not be reversed when the men came home. They had taken over jobs previously filled by men and continued to work after the war

What was the 19th Amendment?

The 19th Amendment that gave women the vote was passed in 1920 after a long campaign

What are Flappers?

New generation of young, fashionable, daring women who challenged traditional expectations