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Period: to
American Economy
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Famous Panic
New York Stock Exchange closed for ten days, 89 railroads went bankrupt -
Long Depression 1873-1876
unemployment reached 14% during this time -
Famous Panic, Recession
New York's Knickerbocker Bank Fails. People rush to withdraw their money from their banks, causing 246 other bank failures -
Assembly Line Stimulates Economy
Henry Ford's assembly line helps increase employment throughout multiple industries. It also makes products more affordable for people, stimulating the economy -
Infamous Black Thursday
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Great Depression
The great depression worsens with over 10,000 bank failures and an unemployment rate of almost 25% -
Start of Recovery
Most economists believe that President Roosevelt's New Deal programs instigated the economic recovery from the Great Depression -
WWII Prosperity
The start of WWII sparks an economic boom. Employement rises and business thrives. -
John F. Kennedy Revenue Act
JFK's Revenue Act was passed and was a $12 billion tax cut. The economy soared
