Final answer:
Americans did begin buying on credit and going into debt during the 1920s. This trend contributed to economic growth but also led to the stock market crash in 1929 and the subsequent Great Depression.
Step-by-step explanation:
True, Americans did begin buying on credit and going into debt during the 1920s, which was known as the 'Era of Consumerism'.
During this time, the availability of installment plans and easy credit allowed people to purchase goods and services without immediate payment. Americans started buying cars, household appliances, and other products on credit, resulting in increasing levels of personal debt.
This trend contributed to economic growth but also led to the stock market crash in 1929 and the subsequent Great Depression.
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