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Chapter 24

Chapter 24. Section 3 A Booming Economy Made by 6 th grade student 2008. Growth in the 1920s. The U.S. started making tons of money! Gross national product- GNP- total value of all goods and services produced 1922- GNP up to $70 billion. 1929- GNP up to $100 billion!

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Chapter 24

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  1. Chapter 24 Section 3 A Booming Economy Made by 6th grade student 2008

  2. Growth in the 1920s • The U.S. started making tons of money! • Gross national product- GNP- total value of all goods and services produced • 1922- GNP up to $70 billion. • 1929- GNP up to $100 billion! • This is more than the following countries: • Chad- $3.87 billion (2005) • Bolivia- $9.7 billion (2005) • Azerbaijan- $10.4 billion (2005)

  3. Improvements • Assembly line increased productivity • Health and accident insurance at your workplace • More appliances in businesses and in homes • Washing machines! Electricity! Radios! Refrigerators! • Installment buying- now you can buy things you don’t have the money for yet.

  4. Henry Ford- inventor of assembly line and Model T ford

  5. Automobiles • The car culture • Detroit, Michigan- new car capital • Henry Ford • Model T and A- lots of people could afford cars who couldn’t before • More roads and highways, truck stops, gas stations • Tourism, suburbs • Steel, rubber, glass • Oil- Iraq and Iran (Harding)

  6. Model T and Model A Ford

  7. Those left behind • Small businesses • Farmers • New technology like fertilizers and pesticides made growing food easier, which made more food, which lowered prices- farmers made less $ • Railroad and coal mining • Cars and trucks replaced trains as main way to move goods and people • Textile factories • More people started wearing synthetic material (not cotton) • Workers • Wages didn’t keep up with cost of living • ¾ below comfortable (middle class)

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