History CA - Economic Boom & Roaring twenties

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Economic Boom & Roaring Twenties

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10 Terms

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Economic Boom

dynamic growth of the American economy in decade after the WW1

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Factors behind economic boom

Industrial Strength, Republican Policies, A state of mind, First World War, New Industries

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Isolationism

turned its back on the world and

focused on itself, USA made money/business, over the next 10 years, their economy would boom.

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Industrial Strength

Growing population -> new city dwellers -> important →market for US industries, No need for import because there are raw materials, Some industries: steel, coal, oil, textile, electricity, motor, cars, telephones, chemicals

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First World War

Lent money to the Allied Forces and sold war weapons and food, Trade around the world ->boost of American industry, Development of aircraft technology and outweighed Germany in chemical industry.

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USA System of Goverment?

Federal System, all individual states look after their own internal affairs, questions that concern all states are dealt by the congress.

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What are the two political parties in USA?

Republicans and Democrates

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Republican Policies

Laissez-Faire: “leave the businessmen alone”, Foreign tariffs (tax on foreign goods) - led to focus on American goods (higher income of American companies), Low taxation: benefits both the ordinary and wealthy people, powerful trusts (corporations) - dominate the economy

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What is a production line?

A line of machines equipment, workers, etc, aimed to speed up the process of creating products.

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A state of mind

”right to prosperity”, attitude of consuming confidence in USA: businessmen – to try new ideas and ordinary Americans - to buy goods (credit)