Edexcel A-Level History: US The
changing quality of life June 2024 Exam
Questions and Answers 100% Pass
Farming during the post WWI depression - Answer>>During the
war, farmers were urged to produce more. After the war, they
were left with surplus and
prices fell. Some took out loans and still had to make more the
repay them. Workers were sacked and other farmers went
bankrupt.
Industry during the post WWI depression - Answer>>Most
workers failed to get better working conditions for strikers and
some caused businesses to fail, increasing unemployment. Older
industries were in decline.
Governement reaction to the post WWI depression -
Answer>>The Republican gov of the time believed in 'lassiez-
faire' policies, so did not try to stop the depression. The
isolationist tariffs put on foreign groups led to other countries
doing to the same on US goods; US exports fell.
Mass production - Answer>>These goods were produced more
quickly and cheaply, so they could be sold at a lower price. This
made them more affordable and people more goods - especially
cars and radios.
Federal policies during the boom - Answer>>While the gov
generally avoided intervention in business, it kept some of the
wartime subsidies to farmers in place and cut taxes for business
to encourage "buying American".
Hire and purchase loans - Answer>>As a sense of prosperity
rose, more people bought homes and farms on mortgages that
, banks were more willing to lend. Between 1920-29, consumer
debt rose from $3.3b to $7.6b.
Changing industry - Answer>>New industries were more
efficient and used a higher level of mechanisation. Older
industries such as textiles, became less important than newer
ones which manufactured consumer goods.
The stock market - Answer>>In the 1920s, the price of shares
in the new industries rose rapidly. The demand for shares
ensured that prices rose. People began buying on the margin
because they expected to make a profit buy selling shares and be
able to repay the loan.
Wall Street Crash - Answer>>1929; Companies didn't cut
production enough, so goods piled up in warehouses. By 1927,
unemployment was rising and employers cut wages and working
hours.
By 13 Nov, many small investors had lost everything and banks
that gambled with their customers money went bankrupts. 1/3 of
all operating banks were bankrupt by 1933.
The Great Depression - Answer>>The Crash significantly
worsened the depression. Many people lost their jobs and those
who could not keep up payments on mortgages lost their homes
too. When Hoover pushed for federal action, Repub Congress
was unwilling to agree.
Recovery - Answer>>Roosevelt closed all banks and only
reopened 'healthy' ones. Federal agencies were formed to
created employment and began to re-establish confidence.
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