Boom and Bust

Question 1

A reason consumerism increased in the 1920s was because many working people

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earned more money.

Question 2

To buy goods on credit means to

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promise to pay for goods later.

Question 3

How did many manufacturers in the 1920s improve efficiency to meet increasing consumer demand?

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They adopted mass-production manufacturing techniques developed by Henry Ford.

Question 4

Look at the graph. During what years did consumerism cause the stock market to grow most?

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1924–1929

Question 5

In the consumer culture of the 1920s,

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people purchased nonessential goods on a regular basis.

Question 6

Read the excerpt from a presidential address given by Calvin Coolidge in 1925.I have been unable to determine how reduction in taxes is injurious [harmful] to business. Each tax reduction has been followed by a revival of business. If there is one thing above all others that will stimulate business, it is tax reduction. If the government takes less, private business can have more. If constructive economy in federal expenditure can be assured, it will be a stimulation to enterprise and investment.Which would be the best headline for this presidential address?

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Tax Reductions Lead to Economic Growth in the 1920s

Question 7

An important feature of consumerism in the 1920s was that manufacturers

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advertised goods.

Question 8

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 9

During the 1920s, more people began to acquire shares of stock using

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credit.

Question 10

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

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consumerism.

Boom and Bust Answers

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