The Boom

Question 1

What were the Democratic Parties main beliefs

Answer 1

Government should intervene in society and economy
More socially progressive - A Americans supported
Liberal

Question 2

What were the Republican Parties main beliefs

Answer 2

Lassaiz Faire
Low government intervention and low taxes for businesses
Conservative

Question 3

Impact of WW1 on America

Answer 3

Not severely affected
Loaned Money to European countries - Profited off these loans
Loaned 10 billion to europe

Question 4

What is Consumerism + SPEND

Answer 4

Prosperity fuelled by culture to buy luxury items
Advertising was effective
63% of American homes had access to electricity

Question 5

How Ford Helped the economy + SPEND

Answer 5

Intro of Assembly lines - cars took 1.5 hours from 12.5
No trade unions
Car production reached 4.7m per year in 1929

Question 6

How did people struggle during the boom? + SPEND

Answer 6

Farmers bought machinery to become more efficient
They overproduced and Europe introduced a tariff on US goods.
Prices fell - 600,000 farmers lost their farms in 1924

Question 7

Reasons for stock market boom + SPEND

Answer 7

1927 number of shares traded 577 million
Businesses were strong with good pay + good profits

Question 8

How did lifestyle change?

Answer 8

Cinema - over 500 movies a year
Jazz - black musicians - night clubs