USA: economic boom

What event in 1914 prompted the American economy to be successful, causing jobs to be created?

• World War 1

• World War 2

America made money from World War One because they sold... (pick all relevant answers)

• cotton

• wheat

• rubber

• gold

• machinery

One reason America's economy boomed was because of natural resources. What were they?

• wood

• copper

• iron

• coal

• oil

World War One helped the American economy by: (pick all relevant answers)

• US manufacturers took over European overseas markets, e.g America became the world's leading producer of fertilisers and chemicals

• The war increased the use of mechanisation and developed the use of new plastics

• Many countries borrowed huge sums of money from American bankers and repaid them in the 1920s

• European countries bought food, raw materials and weapons from America

What does laissez-faire mean?

• The government is very involved with how businesses operate and pass laws to control them.

• The government is lazy but fair.

• The government sets low business taxes and does not pass many laws regulating businesses.

• The government makes lots of laws about businesses but keeps taxes low.

Rugged individualism means

• people should have a lot of help from the government in order to succeed

• people need to be tough and strong to do well in America

• people should work hard and not rely on the government for help

Protectionism meant that

• America put high taxes on imported goods in order to protect and promote American businesses

• America put high taxes on American goods in order to promote and protect foreign imports

• America put high taxes on all goods in order to make money for the governm

What is this?

What is this?

What is an economic boom?

• A significant decrease in a country's wealth

• A slow and steady increase in a country's wealth

• A dramatic increase in a country's wealth

• A dramatic increase in inequality in a country