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The Roaring Twenties > Section 1 > Flashcards

Section 1 Flashcards

1
Q

What is a recession?

A

An economic slump.

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2
Q

Who had to fight a sharp recession when they took office in 1921?

A

Republican Warren Harding.

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3
Q

After the war, how many soldiers came home and began to look for jobs?

A

2 million

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4
Q

When soldiers were coming home from war, factories stopped doing what?

A

Making war materials.

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5
Q

Who did Harding choose for top cabinet posts?

A

Able men who followed pro-business policies.

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6
Q

For other cabinet posts, who else did Harding bring in?

A

His old friends.

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7
Q

Harding was honest and hard-working, but his friends saw the government service as a way to what?

A

Enrich themselves.

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8
Q

A series of what followed as Republican Warren Harding took office?

A

Scandals

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9
Q

Which one of Hardings appointees was convicted of stealing millions of dollars from the Bureau?

A

Charles Forbes.

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10
Q

What did Harding die of?

A

A heart attack.

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11
Q

After Hardings death in 1923, more of what came to light?

A

Scandals.

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12
Q

What was the most serious scandal?

A

The Teapot Dome scandal.

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13
Q

What took place in the Teapot Dome scandal?

A

To oil executives had bribed secretary of the Interior Albert Fall in order to get secret leases of government land in California and in Teapot Dome Wyoming.

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14
Q

When Calvin Coolidge became president what did he set out to repair?

A

The damage the scandals caused Republican Party.

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15
Q

Like Harding, what did Coolidge believe that prosperity for all americans depended on?

A

business prosperity.

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16
Q

What did Coolidge cut regulations on?

A

businesses.

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17
Q

What did Coolidge name to government agencies?

A

business leaders.

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18
Q

What did Coolidge’s policies contribute to?

A

A time of economic growth.

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19
Q

The postwar recession ended as factories did what?

A

Switched to consumer goods.

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20
Q

What were some examples of prosperity?

A

Production increased, incomes rose, and consumers bought the new consumer products that were being made.

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21
Q

To attract buyers, what increased?

A

Advertisement.

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22
Q

To attract even more buyers, businesses began to allow what?

A

Installment buying.

23
Q

What was installment buying?

A

Buying on credit.

24
Q

Explain installment buying.

A

It’s when buyers made a small down payment, then paid in installments each month until they had paid the full price plus its interest.

25
Q

This new policy increased the demand for what?

A

Goods.

26
Q

At the same time, installment buying made what rise?

A

Consumer debt.

27
Q

What did the economic boom give a boost?

A

The stock market.

28
Q

What are stocks?

A

Shares of ownership.

29
Q

Who did Corporations sell stocks to?

A

Investors.

30
Q

Investors may or lost money depending upon what?

A

Whether the price of the shares went up or down.

31
Q

Stock prices rose so fast that some people made what?

A

Fortunes overnight.

32
Q

What is a bull market?

A

A period of increased stock trading and rising stock prices.

33
Q

Many people bought stocks on what?

A

Margin.

34
Q

With this message, an investor bought a stock for as little as what?

A

10% down payment.

35
Q

In a margin, the buyer held the stock until what?

A

Until the price rose and then sold it at a profit.

36
Q

Margin buying worked as long as what rose?

A

Stock prices.

37
Q

By 1928 and 1929, a few experts were warning that the bull market could what?

A

Not last forever.

38
Q

After World War I United States was the world’s leading what?

A

Economic power.

39
Q

President Harding and Coolidge wanted peace in Europe, but they did not want United States to do the job of what?

A

Keeping world peace.

40
Q

The United States refused to join the league of Nations and return to what?

A

It’s prewar Isolationism.

41
Q

What happened to trade and investment in Latin America during and after World War I?

A

It increased.

42
Q

United States intervened in Latin America to protect its what?

A

Economic interests.

43
Q

Who did Coolidge send when a revolution broke out in Nicaragua where Americans owned plantations and railroads?

A

The Marines.

44
Q

Who did Wilson send to work out a compromise when Mexico announced plans to take over foreign-owned oil and mining companies?

A

A diplomat

45
Q

In the Soviet Union, V.I. Lenin created the world’s first what?

A

Communist state.

46
Q

What is communism?

A

An economic system in which the community as a whole owns all wealth and property.

47
Q

Even though Americans despite communism, Congress voted $20 million in aid when what threatened Russia 1921?

A

A famine

48
Q

In Europe, what had helped cause World War I?

A

An arms race.

49
Q

Many people in the 1920s favored the reduction of Armed Forces and weapons of war called…?

A

Disarmament.

50
Q

At the Washington conference of 1921, who agreed to limit the size of their navies?

A

The United States, Britain, and Japan.

51
Q

In 1928, the United States and 61 other nations signed the what?

A

Kellogg-Briand pact.

52
Q

What did The Kellogg-Briand pact outlaw?

A

war.

53
Q

The Kellogg-Briand Pact did not set up any means for what?

A

keeping the peace.

The Roaring Twenties (4 decks)

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