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Unemployment
1910: 5.86%
1911: 6.27%
1912: 5.25%
1913: 4.93%
1914: 6.63%
1915: 7.18%
1916: 5.63%
1917: 5.23%
1918: 3.38%
1919: 2.95%
1920: 5.16%
1921: 8.73%
1922: 6.93%
1923: 4.8%
1924: 5.8%
1925: 4.92% -
Consumer Price Index
During World War I, US federal spending grew three times larger than tax collections. When the government cut back spending to balance the budget in 1920, a severe recession resulted. -
Inflation Rate
Jan 1, 1925
0.00%
Jan 1, 1924
2.98%
Jan 1, 1923
-0.59%
Jan 1, 1922
-11.05%
Jan 1, 1921
-1.55%
Jan 1, 1920
16.97%
Jan 1, 1919
17.86%
Jan 1, 1918
19.66%
Jan 1, 1917
12.50%
Jan 1, 1916
2.97%
Jan 1, 1915
1.00%
Jan 1, 1914
2.04%
Jan 1, 1913
7.34%
Jan 1, 1912
-1.08%
Jan 1, 1911
-6.77%
Jan 1, 1910
10.74% -
Interest Rate Fluctuations
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Federal Reserve Discount Rates
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Impact of Business Cycles on Business Activities
During our time period, WWI was still going on; therefore, most spending was for the war. There was expansion of a variety of industries and city growth. This graph displays the GNP, Gross National Product. After the short depression between 1920-1921, the economy started to rapidly grow due to the war ending and people coming home and buying on credit. The 20s were a prosperous time until 1929, when the Great Depression hit. -
Federal Reserve Discount Rates
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Fiscal Policy
Before the great depression, the government’s approach to economic policy was somewhat laissez faire, they tried to stay out of economic measures and hoped that a balanced budget would be maintained. Even with a few economic downturns, the economy would correct itself,so laissez faire seemed to be working. -
Government Expenditure
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Effects of Tax Policies on Business
The 16th amendment- The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration- wasn't passed until 1913, so that is when the government began to tax businesses. The government could not decide on amount of taxes needed to close the fiscal tax, so a steeper income tax was implemented (which means that large corporations paid much more). -
Gross Domestic Product
Not calculated officially until 1934 -
Gross Domestic Product Per Capita
Not calculated until 1934 -
Government Expenditures
