social studies 20's boom

• gov does not control buisnesses
• our gov in early years
• aka captialism
• relies on supply and demand

gov decides and controls buisness

• gradual increase in economy is good
• big jumps or dips are bad

where there is too much money in the economy and the prices are rising too quickly or something that could cause a quick rise

short downturn in the economy

a downturn in the economy that lasts a long time and effects a lot of people

• a decission that costs you an oppurtiny to make or spend money
• the decision you don do is the oppurtunity cost.

• you dont sell to someone
• a country refuses to sell to another country

when you wont selll to a country or you put pressure on them by doing something that puts their economy at risk

• 1920
• he wanted to restor the country, normalcy, prosperity
• puts together an economy cabinet led by mellon- trickle down theroy
• wanted to reduce money owed by gov
• limit gov involvment in the economy
• give money to wealthy and tax cuts so wealthy will create more jobs(trickle down theory)

• 1924
• honest, fires officials involved in bribery
• vetoed aid to farmers
• raised tarrifs
• taxcuts for wealthy
• more probuisness

• 1928
• maintain economic prosperity
• republican
• appliances are booming, cars, electricity

Teapot Dome Scandal: a political scandal in which U.S. secretary of the interior Albert Fall leased national oil reserves in Elk Hills, California, and Teapot Dome, Wyoming, to two companies that had bribed him