True: Agricultural revenue fell from $20 to $13 billion in the 1920s, Post war USA became a creditor nation, Coolidge said ‘the chief business of America is business’, The era was known as the ‘roaring 20s’, Assembly line was pioneered by Henry Ford, Electricity consumption doubled over the 20s, Buying shares ‘on the margin’ became commonplace, Sear, Roebuck and Co was a mail order company, By mid 20’s 1 car was produced every 10 seconds, Some factories had a whites only policy, GDP went from $78 to $103 billion, 40% of Americans lived on / below the poverty line, Fordney McCumber Act was a US import tariff, Republican's fiscal policy was low taxation, Republicans believed in free market capitalism, False: Laissez faire meant strong government regulation , 20% of the US population lived below the poverty line, By 1929 only 30% of homes had electricity , The Wall St Crash caused the depression , Democratic Presidents dominated the 1920s, Herbert Hoover said, ‘poverty is just around the corner’, Tariffs were imposed to encourage free trade, Ford and other owners welcomed Trade Unions, By 1928 1 in 10 Americans had a car, Republicans believed in regulation, The US had an open door policy for immigrants, the 1921 and 1924 Revenue acts increased taxation, By 1929 60,000 homes had radios, Farmers did especially well in the 1920s, 'WASPs' were immigrants,

USA 1920s

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