Economic Challenges in 1900

The video explores the cost of living in 1900, focusing on a factory worker named John. It highlights the economic challenges of the time, comparing them to modern standards. Despite low wages, John dreams of owning a house, showcasing the resilience and determination required to achieve the American Dream. The video reflects on how the concept of the American Dream has evolved, emphasizing personal fulfillment over material possessions.

In 1900, how much could you hire a maid for per month?

• $20

• $10

• $4

• $15

What time does John start his day as a factory worker?

• 8:00 a.m.

• 5:00 a.m.

• 6:00 a.m.

• 7:00 a.m.

How much does John earn per hour at the factory?

• 25 cents

• 10 cents

• 20 cents

• 15 cents

What percentage of John's daily wage does a 5-cent loaf of bread represent?

• 10%

• 1%

• 2.5%

• 5%

How long would it take John to save for a $3,000 house at his initial savings rate?

• 50 years

• 75 years

• 115 years

• 150 years

What is one strategy John uses to save more money?

• Taking on a second job

• Buying new clothes

• Buying a car

• Eating out more often

How many hours a week does John work after taking a second job?

• 60 hours

• 72 hours

• 96 hours

• 84 hours

What was a common necessity for families in 1900 to make ends meet?

• Frequent vacations

• Government assistance

• Multiple income sources

• Relying on a single income

What does the American Dream represent today compared to 1900?

• Owning a house

• Traveling the world

• Personal fulfillment and opportunities

• Having a large family

What is a modern-day equivalent of John's sacrifice of giving up his weekly Coca-Cola?

• Skipping a daily coffee

• Not buying new clothes

• Avoiding eating out

• Canceling a gym membership