Causes of the boom (AQA GCSE History): Quizzes
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Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What are the key features of an economic boom?
What are the key features of an economic boom?
Low unemployment, high wages, strong sales
What did America do when WWI began in 1914?
What did America do when WWI began in 1914?
Stayed neutral & didn't join the fighting
How did US banks & businesses profit from WWI before 1917?
How did US banks & businesses profit from WWI before 1917?
Lent money & sold supplies to Britain
What % of the world's petrol did America produce by 1920?
What % of the world's petrol did America produce by 1920?
70%
What % of US homes had electricity by 1929?
What % of US homes had electricity by 1929?
70%
What were hire purchase agreements?
What were hire purchase agreements?
Paying for goods in instalments
By the 1920s, what % of cars were bought using hire purchase?
By the 1920s, what % of cars were bought using hire purchase?
60%
What was the main benefit of the assembly line?
What was the main benefit of the assembly line?
Made manufacturing faster & more efficient
What did laissez-faire economics mean?
What did laissez-faire economics mean?
Minimal govt interference in business
When was the Fordney-McCumber Tariff Act passed?
When was the Fordney-McCumber Tariff Act passed?
1922
What did the Fordney-McCumber Tariff do?
What did the Fordney-McCumber Tariff do?
Put high taxes on imported goods
What did mass production lead to in the prosperity cycle?
What did mass production lead to in the prosperity cycle?
Cheaper goods