1 Point
Which of the following factors contributed to American consumer spending
during the 1920s?
) A. Rich people welcomed middle-class people into their homes and
schools.
O
B. Products that were imported from other countries were very
inexpensive.
O
C. People were willing to borrow money to buy products instead of
saving for them.
D. An excess of luxury goods raised the standard of living for
everyone.

Question

02-01-2020
History

contestada

1 Point
Which of the following factors contributed to American consumer spending
during the 1920s?
) A. Rich people welcomed middle-class people into their homes and
schools.
O
B. Products that were imported from other countries were very
inexpensive.
O
C. People were willing to borrow money to buy products instead of
saving for them.
D. An excess of luxury goods raised the standard of living for
everyone.

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clementine18 clementine18 · Answer 1 · 2020-01-09T11:34:03+01:00

Answer: C. People were willing to borrow money to buy products instead of saving for them.

Explanation:

In the 1920s, the expansion of credit took place and allowed many middle-class Americans to purchase luxury goods they could not buy before.

Americans bought products on credit or on margin. For example, credit expansion enabled middle-class people to buy automobiles which were out of their reach before.

However, people could not finance loans for luxury products, which later contributed to the Great Depression (1930s).