What Factors Led To The Growing Economic Crisis In Farming?

What factors led to the new consumer society in the United States during the 1920s quizlet?

ere were a few factors that led to new consumers society in the united states during the 1920s. Some of these factors include mass production, credit, and a good economy. Mass production allowed for an increase in the supply of goods as well as decreasing the cost.

How did the Coolidge administration differ from the Harding administration?

How did the Coolidge administration differ from the Harding administration? If you cut taxes, businesses and people would spend and investors more of their money which would cause the economy to grow and Americans to earn more money. Then the government will collect more taxes.

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How did the Dawes Plan prevent an economic crisis in Europe quizlet?

The Dawes Plan, named after the American banker who chaired the commission, first reduced reparations. It then coordinated Germany’s annual payments with its ability to pay.

How did technological innovations in the workplace such as the assembly line and mass production?

How did technological innovations in the workplace, such as the assembly line and mass production, affect American workers and American businesses? Technological innovations such as the assembly line resulted in more efficient, easier, quicker, and cheaper production.

What parts of society changed in the 1920s that led to the rise in consumerism?

During the 1920s, demand for automobiles increased as more Americans were able to afford them. Automobile manufacturers struggled to produce enough cars to satisfy consumer demand during the 1920s. The economy boomed as consumers had more money to spend just as more manufactured goods were becoming available.

What has made the economic boom of the 1920s possible?

The main reasons for America’s economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.

What efforts did the US take to promote permanent peace and worldwide economic recovery?

Some of the efforts of the United States are creating peace talks and pioneering treaties between the US and other countries. Also, their effort in the promotion of worldwide economic recovery is offering investments to other countries, without harming their own economy.

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How did changing attitudes about credit affect peoples daily lives?

How did changing attitudes about credit affect people’s daily lives? Debt was no longer considered shameful therefore people were more willing to buy on credit and using installment plans. This led to an increase in the demand for consumer goods. Advertising increased to convince people to buy new products.

What were two ways that the United States government helped to promote economic growth?

To protect the economy, the U.S. government can utilize its fiscal policy by raising or lowering taxes and/or increasing or decreasing spending, as well as use monetary policy, through the Federal Reserve, to buy and sell treasury bonds, change the reserve requirements in banks, and change the discount rate.

Is a period of low economic activity and rising unemployment?

Consider a recession, a period of low economic activity. So unemployment rises and inflation falls during recessions.

How did the Dawes Plan prevent an economic crisis in Europe?

It ended a crisis in European diplomacy following World War I and the Treaty of Versailles. The plan provided for an end to the Allied occupation, and a staggered payment plan for Germany’s payment of war reparations.

What is the goal of the Dawes Plan?

The plan provided for the reorganization of the Reichsbank and for an initial loan of 800 million marks to Germany. The Dawes Plan seemed to work so well that by 1929 it was believed that the stringent controls over Germany could be removed and total reparations fixed. This was done by the Young Plan.

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What problem did the assembly line solve?

On December 1, 1913, Henry Ford installs the first moving assembly line for the mass production of an entire automobile. His innovation reduced the time it took to build a car from more than 12 hours to one hour and 33 minutes.

What were Ford’s 3 principles of assembly?

He and his team looked at other industries and found four principles that would further their goal: interchangeable parts, continuous flow, division of labor, and reducing wasted effort. Using interchangeable parts meant making the individual pieces of the car the same every time.

Are assembly lines still used today?

It has been just over 100 years since Henry Ford introduced the modern assembly line and forever changed the course of manufacturing. Over a century later, the modern assembly line is still the main arm of the global manufacturing industry.

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