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maxush-20s economy
| Question | Answer |
|---|---|
| prices for food, shelter , clothing, and other essentials increases during the twenties | standard of living |
| large scale product manufacturing usually done with machinery, increases the supply of goods and decreases costs | mass production |
| manufacturing process that breaks up complex tasks into small tasks that do not require skills to perform | assembly line |
| first mass produced automobile, Henry Ford makes affordable for average person, price drops from $850 to $295 | Model T |
| paid workers double the wage for the day $5/day workers more loyal, undercut union | Ford's philosophy |
| petroleum industry, repair shops and many new small businesses grow as a result of automobile | new industries |
| people could now live farther from work, no longer tied to land | rural isolation |
| money left after all living expenses have been paid,increases during twenties, people spent many different types of products | disposable income |
| many new labor saving devices are developed to make life for consumer easier | appliances |
| post office expanded and sped up service across country, using airplanes left over from WWI | air mail |
| first to fly solo nonstop NY to Paris, greatly influenced commercial airline industry | Charles Lindbergh |
| 1920 Pittsburg, PA first commercial radio broadcast, presidential election results | KDKA |
| established a network of radio stations to distribute daily programming | NBC |
| established a coast to coast network of radio stations | CBS |
| amount of credit increases, people more confident that debt can be paid back over time | debt |
| fast growing industy, used to convince Americans they need products produced in factgories | advertising |
| new class of worker, supervise the many workers on assembly lines | professional managers |
| workplace that does not require union membership to work there | open shop |
| employee benefits, profit sharing, purchasing stock, paid vacation, and insurance | welfare capitalism |
| drop dramatically during 1920's, European demand drops, new technology increases production | farm prices |
| increased, causes European nations to raise tariffs on US farm products, markets disappear | tariffs |
| raised tariffs dramatically to protect US industry | Fordney-McCumber Tariff |
| vetoed twice by Coolidge, called for US government to purchase surplus crops and sell overseas | McNary-Haugen bill |
Created by:
artm239
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