Which social change of the 1920s can best be explained by the expansion of the use of credit?

Which social change of the 1920s can best be explained by the expansion of the use of credit?

Explanation: Being able to credit loans and to have money safe in bank accounts made it possible for people with less present income to save up and buy houses and cars and eventually lead a life that was promised to the middle class of USA in the 20’s.

What has made the economic boom of the 1920s possible?

The main reasons for America’s economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.

What economic problems threatened the economic boom of the 1920s?

What economic problems threatened the economic boom of the 1920s? the increased spending and buying on credit. What factors caused an increase in consumer spending? Government policies, high tariffs on imports.

What was the effect of the rise of the consumer economy and new technologies?

Assembly lines are faster, which increases the supply of new products. Almost everyone now can have a phone, or a TV, or a car. Technological innovations have increased manufacturing efficiency. Life expectancy rates are much higher now.

Which economic change can be attributed to the development of new technologies in the 1920s?

Which economic change can be attributed to the development of new technologies in the 1920s? The number of bootleggers increased. People began earning middle-class salaries. Production and manufacturing became more efficient.

What was the impact of new technologies in the 1920s?

First, it gave Americans more leisure time. By the 1920s, there were many more labor saving devices, particularly ones that reduced the difficulty of housework. These gave Americans more time to do things other than simply working. Second, technology gave Americans more things to do with that newly-found spare time.

What caused the 1920s depression?

It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.

What was the worst unemployment rate during the Great Depression?

The highest rate of U.S. unemployment was 24.9% in 1933, during the Great Depression.