During the 1920s, the united states economy moved through which phase of the business cycle?

Expansion

Further Explanation:

The period of the 1920s saw expansion in various fields of technology as well as the economic sector of the United States. There were innovations in the field of technology and the economy was on an all-time high. But when stock market crash took place in year 1929, These were a major decline in the economy and that was the start of period of the Great Depression in the United States with almost 25% of people losing their jobs. During the period of the early 1920s, the banking system of the United States was around 50 billion dollars and that accumulated around 50% of the GDP during that time.  

There was also migration that took place during the period of the 1920s. Millions of farmers came to the cities for work and this was the reason that people seeking jobs in these cities were more as compared to job opportunities and that led to unemployment. Because of this very issue, Cities became unattractive and people who migrated to these cities in search of jobs, Went back.  

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Answer details:

Grade:High School

Chapter:History

Subject:Economy in 1920s

Keywords:United States, Economy, Government, Bankruptcy, Hoover, Fiscal, Stock market, Monetary, Financial assistance.  

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