1920’s

Business Cycles

In the 1920 presidential election, voters chose a man who promised a return to prosperity. Who?

A. Woodrow WilsonB. Warren G. HardingC. Herbert HooverD. James M. Cox

According to the “trickle down” theory, what happens with tax cuts are given to wealthy people?

A. They get wealthier.B. They hire more employees.C. They pay less taxes.D. They save more money.

Which of the following BEST describes the Harding and Coolidge administrations of the 1920s?

A. pro-free trade B. Pro businessC. socially progressiveD. antitrust

In 1928 Hoover was elected over Democrat nominee Alfred E. Smith. Which of the following is a reason that Smith did not win?

A. He was very old.B. He was very young.C. He was African American.D. He was Catholic.

• Business boomed during the 1920’s until 1928

• There was a rapid economic growth following the end of the War

• From 1921 to 1929 the US doubled its output

• Jobs and wages also increased but not nearly like the amount of money that the owners were making

• Henry Ford, Model T, and the assembly line

• Ford saw the car as a means of transportation not just the wealthy

• He saw it as a means for the everyday person to get around

• In 1908 his model T, AKA Tin Lizzy sold for $850.00

• By 1925 thanks to advances in the assembly line and production the cost was down to $290.00

• The time taken to build a car dropped from 14 hours to 93 minutes with the advent of the Assembly line

• 1914 Ford raised the price that he paid workers to $5.00 per day

• This compared to $2-3 per day other places

• Ford wanted to keep his workers there and happy

• Reduced the work day from a 12 hour day down to 8

• Employed people who others would not like African American and people with disabilities.

• To make the very cars that the workers were building available to them he cam up with an installment plan for them

• He allowed them to buy a car with very little down and make payments

• Other car companies followed suit• Even offered cars in colors other then

Black

• Fords assembly line was picked up and used all across America

• His idea of using an installment plan moved from cars to other parts of the country also

• New products were coming of age

• Things that were for the home as well as for the road.

• By the 1920’s it would no longer be a necessity to haul ice to your kitchen to keep food lasting longer

• The advent of Advertisement boomed

• They targeted the wife

• Washing machines that could be used in the home

• Used the idea that these new products would make you life much easier and get you work done in less time

• The camera was making its debut

• Kodak was the top seller with their camera

• The idea of an instant photo

• Advertisements in all areas were now common place in magazines and newspapers

• As sports became more popular they also were found in the advertisements

• Along with the advertisements for home and sport things came the newest and greatest things that came to the market

• The Radio• Along with what

you could expect to hear and experience

• Though just a few of the ways businesses changed they did offer Americans and the world a new way of life

• People benefited from the advancements in technology

• Their work life became mundane because of the lack of skills required to work in the new High Tech jobs

• Quality time with the family increased with the decrease of the work day

• Installment plan, buying on credit was widespread

• Not only were companies allowing people to buy on Credit homeowners were able to go to banks to obtain loans for many things.

• Businesses were booming because of the money made available to them through the stock market

• This prosperity was to remain through the late 1920’s when things would start to fall apart