C HAPTER 24 Section 3 A Booming Economy Made by 6 th grade student 2008.

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Presentation transcript:

C HAPTER 24 Section 3 A Booming Economy Made by 6 th grade student 2008

G ROWTH IN THE 1920 S The U.S. started making tons of money! Gross national product- GNP- total value of all goods and services produced GNP up to $70 billion 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)

I MPROVEMENTS 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.

H ENRY F ORD - INVENTOR OF ASSEMBLY LINE AND M ODEL T FORD

A UTOMOBILES 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)

M ODEL T AND M ODEL A F ORD

T HOSE 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)