The USA 1919-41, Key Topic 1: US Economy 1919-29

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The Constitution of the USA sets out how power should be shared in the country – True or False?
True
1 of 25
Which parts of the government can be checked by the Supreme Court?
President and Congress
2 of 25
Is the Federal Government just local or central to the USA?
Central
3 of 25
List any two powers of central government.
go to war/armed forces, foreign policy, $$$currency
4 of 25
Give two ways in which the First World War boosted the US economy.
sold weapons, sold food, goods, weren’t so affected by the war as other countries, countries in the war couldn’t produce their own food, bought American. Made money from LOANS
5 of 25
This time 1923-29 is known as ‘Coolidge prosperity’- why?
Coolidge was the President during those years.
6 of 25
At the end of WW1 President Wilson proposed a ‘League of Nations’ for peace – so why didn’t the USA join in?
Senate/Congress/most Americans refused to let him join it.
7 of 25
Give two examples of the way the USA had a policy of ‘Isolationism’.
Wouldn’t pass the Treaty of Versailles, upset by the number of American casualties, brought in a quota system for immigrants, end of OPEN DOOR, put tariffs on foreign goods.
8 of 25
What is the term for letting businesses run their own affairs?
Laissez Faire
9 of 25
What is a ‘Tariff’?
A TAX by the GOVERNMENT put on foreign goods coming from ABROAD
10 of 25
What is the date of the Fordney-McCumber tariff?
1922
11 of 25
Previously the US had an ‘Open Door’ policy on immigration. What limit to numbers was set in 1921?
No more than 3% of the total population.
12 of 25
The 1924 Immigration Act reduced the quota to 2%. True or False?
True
13 of 25
Name the car manufacturer who first successfully used mass production and standardisation.
Ford.
14 of 25
Give TWO key features of mass production.
just one standard product; one worker doing the same job – division of labour; a moving assembly line.
15 of 25
Before mass production, time taken to produce a car = 12 hours. How long in the new system?
1.5 hours
16 of 25
Name four areas of industry/employment boosted by car production.
car dealerships, garages, mechanics, leather glass petrol oil travelling salesmen.
17 of 25
Name any 2 goods made cheaper by mass production not including cars.
radios, fridges, washing machines, phones,
18 of 25
What was ‘Hire Purchase’?
Any similar comment to: when people paid a sum of money that both rented and bought the goods at the same time; didn’t pay all the price of the goods at once.
19 of 25
Write two ways that the American government encouraged and helped business.
Tariffs on foreign goods; low taxation; plentiful finance; let businesses have their own way (laissez-faire).
20 of 25
What was a ‘Speculator’?
Someone who took large RISKS on the stock market; GAMBLED on stocks and shares; BORROWED money to play the stock market.
21 of 25
Explain the term: buying shares “on the margin”.
someone who does NOT have their own money to buy stocks/shares. BORROWS money to speculate on the market and hopes there is enough profit (margin) to pay back the loan.
22 of 25
Why did agriculture not share in the ‘Boom’ times of the 1920s?
Changes in diet (away from starch), huge demand of WW1 had gone, too much produced (surplus), mechanisation (tractors and other machines brought in, horses no longer needed), Prohibition (grapes & barley not so needed).
23 of 25
Name two ‘old’ industries which couldn’t benefit from the new systems.
coal, shipbuilding, railways, natural textiles eg leather, cotton.
24 of 25
Give two other underlying weaknesses/problems in the US economy (not agriculture).
Blacks were poor, many farmers didn’t share the wealth; some immigrants poor; Native Americans lived in poverty, many workers/WOMEN poorly paid, didn’t get a fair share of the profits, Southern states poorer than North.
25 of 25

Other cards in this set

Card 2

Front

Which parts of the government can be checked by the Supreme Court?

Back

President and Congress

Card 3

Front

Is the Federal Government just local or central to the USA?

Back

Preview of the front of card 3

Card 4

Front

List any two powers of central government.

Back

Preview of the front of card 4

Card 5

Front

Give two ways in which the First World War boosted the US economy.

Back

Preview of the front of card 5
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