Which of the following was a characteristic of the American economy during the 1920s?
A) The federal government took a less active role in aiding business interests.
B) Consumerism became a major economic force as consumer protection groups abounded.
C) Increased competition within major industries led to renewed emphasis on product quality.
D) The trend toward the consolidation of economic power in the hands of oligopolies continued.

Question

Quizplus · Accepted Answer

The 1920s saw the trend toward the consolidation of economic power in the hands of oligopolies continue, as large corporations dominated the economy and smaller businesses struggled to compete. The federal government also took a less active role in aiding business interests, favoring a laissez-faire approach. Consumerism did become a major force, but it was not due to the proliferation of consumer protection groups, but rather the rise of advertising and the availability of new consumer goods. Increased competition did not lead to a renewed emphasis on product quality, as companies often cut corners to beat their rivals.

Which of the Following Was a Characteristic of the American