long term factors for the economic boom

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  • Long- term factors for the economic boom
    • Spread of electricity
      • By 1929 most US cities had electricity.
    • Cheap labour force
      • Immigration from Europe provided plentiful supply of cheap, unskilled labour
    • Natural Resources
      • America had plentiful supplies of raw materials such as oil, coal,wood and iron ore.
    • Confident
      • People were prepared to buy goods, invest in companies and take out loans
    • Protection of home industries: introduction of tariffs, policies and attitudes of the republican presidents
    • Impact of the first world war

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