A Roaring Economy Answers

1

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Calvin Coolidge’s economic policies during the early 1920s helped people forget about the

A

Teapot Dome Scandal.

B

Wall Street Scandal.

C

Stock Investors Scandal.

D

Consumer Credit Scandal.

2

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During the 1920s, more people began to acquire shares of stock using

A

credit.

B

cash.

C

installments.

D

speculation.

3

A reason consumerism increased in the 1920s was because many working people

A

earned less money.

B

earned more money.

C

bought only essential goods.

D

bought only nonessential goods.

4

The land called Teapot Dome in Wyoming was valuable because

A

it was fertile.

B

it produced oil.

C

it was a vast grassland.

D

it had a copper mine.

5

While consumerism during the 1920s boosted the economy, it also led to

A

more savings.

B

higher debt.

C

lower debt.

D

fewer stocks.

6

For most of the 1920s, how did the growth of credit affect the stock market?

A

Investors bought more stocks on margin, and the stock market rose.

B

Investors bought more stocks with cash, and the stock market rose.

C

Investors took fewer risks on stocks, and the stock market declined.

D

Investors took more risks on stocks, and the stock market declined.

7

How did many manufacturers in the 1920s improve efficiency to meet increasing consumer demand?

A

They raised prices to reduce consumer demand, allowing time to meet production needs.

B

They resisted changing production and sales techniques so workers would not need retraining.

C

They offered a smaller variety of goods to focus on producing only a few products.

D

They adopted mass-production manufacturing techniques developed by Henry Ford.

8

The US president whose economic policies were connected to the Teapot Dome Scandal was

A

Theodore Roosevelt.

B

Warren G. Harding.

C

Calvin Coolidge.

D

Franklin Roosevelt.

9

Read the excerpt from a presidential address given by Calvin Coolidge in 1925.I have been unable to determine how reduction in taxes is injurious [harmful] to business. Each tax reduction has been followed by a revival of business. If there is one thing above all others that will stimulate business, it is tax reduction. If the government takes less, private business can have more. If constructive economy in federal expenditure can be assured, it will be a stimulation to enterprise and investment.Which would be the best headline for this presidential address?

A

Tax Reductions Remain Unpopular in the 1920s

B

Tax Increases Are the Solution to 1920s Economic Problems

C

Tax Increases Have No Supporters in the 1920s

D

Tax Reductions Lead to Economic Growth in the 1920s

10

To buy goods on credit means to

A

pay cash for goods.

B

promise to pay for goods later.

C

promise to pay only a sale price.

D

pay only a discount price.

11

An important feature of consumerism in the 1920s was that manufacturers

A

avoided advertising goods.

B

sold goods only for cash.

C

advertised goods.

D

made fewer goods.

12

How did many manufacturers in the 1920s improve efficiency to meet increasing consumer demand?

A

They raised prices to reduce consumer demand, allowing time to meet production needs.

B

They resisted changing production and sales techniques so workers would not need retraining.

C

They offered a smaller variety of goods to focus on producing only a few products.

D

They adopted mass-production manufacturing techniques developed by Henry Ford.

13

In the consumer culture of the 1920s,

A

people purchased nonessential goods on a regular basis.

B

people purchased only essential goods on a regular basis.

C

people reduced their purchasing of essential goods.

D

people reduced their purchasing of nonessential goods.

14

The US president whose economic policies were connected to the Teapot Dome Scandal was

A

Theodore Roosevelt.

B

Warren G. Harding.

C

Calvin Coolidge.

D

Franklin Roosevelt.

15

During the 1920s, more people began to acquire shares of stock using

A

credit.

B

cash.

C

installments.

D

speculation.

16

In the 1920s, a reflection of the weakening economy was the growing gap between

A

farmers and laborers.

B

the rich and the poor.

C

stockbrokers and bankers.

D

consumers and sellers.

17

A reason consumerism increased in the 1920s was because many working people

A

earned less money.

B

earned more money.

C

bought only essential goods.

D

bought only nonessential goods.

18

In the 1920s, the continued rise in the stock market and economic growth depended most on

A

bankers buying stocks with cash.

B

investors buying stocks with cash.

C

consumers buying goods on credit.

D

consumers growing their own food.

19

Read the excerpt from a presidential address given by Calvin Coolidge in 1925.I have been unable to determine how reduction in taxes is injurious [harmful] to business. Each tax reduction has been followed by a revival of business. If there is one thing above all others that will stimulate business, it is tax reduction. If the government takes less, private business can have more. If constructive economy in federal expenditure can be assured, it will be a stimulation to enterprise and investment.Which would be the best headline for this presidential address?

A