11 terms

history ch 20.3

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what actions did Calvin Coolidge take to support his pro-business stance?
High tariffs on foreign foods, reduced income taxes, wages rise
automobile
changed American landscape
built gas stations, roads, shopping centers, more
freedom to travel - model T ford
economic boom
Alternating Electrical Current
houses could get electricity
more homes now have electric/fridge/ranges
distributes electric power
efficiency over long distances
could transmit electricity over ???
business mergers
numerous business mergers of companies that manufactured automobiles, steels and electrical equipment
productivity up = business up
airline industry
started as mail service
pan American airlines - inaugurated the first transatlantic passenger flight in 1927
trimotor airplane
modern advertising methods
advertising agencies hired psychologists to study people's desires
"say it with flowers"
business names became more familiar
mouthwash became a necessity
billboards
Installment Plans
enabled people to buy goods over an extended period without having to put down much money at time of purchase
Why did businesses struggle economically in the 1920's?
the iron and railroad industries among others were very prosperous
businesses grew
introduce installment plan
railroad declines
Why did farmers struggle economically in the 1920's?
suffered losses with new machinery
they were producing more food than what was needed which drove down prices
What factors contributed to a "superficial prosperity" during the 1920's?
Growing income gap between workers and managers
installment and buying gets out of hand
75% of all household goods bought on credit
Losses of farmers, railroads, ?? companies
Calvin Coolidge said, "After all, the chief business of the American people is business." What events and trends of the 1920's support Coolidge's statement?
America's standard of living went up (80%)
People start purchasing cars and gives them a "sense of freedom"
Electricity was no longer restricted to Central cities which allows ??? freezes
Stores started to rapidly spread (growth of advertising)
Credit starts to make people buy more goods