Boom and Bust

Question 1

To buy goods on credit means to

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promise to pay for goods later.

Question 2

While consumerism during the 1920s boosted the economy, it also led to

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higher debt.

Question 3

President Harding’s economic policies during the 1920s contributed to the rise of

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consumerism.

Question 4

How did mass production affect consumers?

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The prices of mass-produced goods decreased, making many items more affordable.

Question 5

The land called Teapot Dome in Wyoming was valuable because

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it produced oil.

Question 6

In the consumer culture of the 1920s,

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people purchased nonessential goods on a regular basis.

Question 7

For most of the 1920s, how did the growth of credit affect the stock market?

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Investors bought more stocks on margin, and the stock market rose.

Question 8

Calvin Coolidge’s economic policies during the early 1920s helped people forget about the

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Teapot Dome Scandal.

Boom and Bust Answers