1945-1975 Economic

Question 1

when was the Marshall plan and what did it do?

Answer 1

1947

US gave $12b to help rebuild European economies?

Question 2

what was a dominant factor of the economy due to ww2?

Answer 2

military-industrial complex

Question 3

by how much did jfk reduce tax over 3 years?

Answer 3

$10b

Question 4

what was the economic growth by the end of 1963?

Answer 4

5%+

Question 5

how many months of unbroken growth was there, mainly under LBJ?

Answer 5

106

Question 6

what did lbj call his political ideas on american finances and its impact on society?

Answer 6

the great society

Question 7

under lbj how much did national debt increase by?

Answer 7

13% to $42b

Question 8

which president set up the office of opportunity and what was it?

Answer 8

lbj

helped small farmers, provided job training etc

Question 9

what stopped spending on the great society?

Answer 9

vietnam war

Question 10

how many households owned a tv in 1948, and how many in 1958?

Answer 10

48=0.4%

58=83%

Question 11

what year did the economy go south?

Answer 11

1969

Question 12

what caused the economy to falter?

Answer 12

balance of payment deficit (caused by huge military spending)

Question 13

after 1971s camp david meeting, what 4 ways did nixon greatly expand intervention in the economy?

Answer 13

freeze on wages/prices
raised tariffs on all imports
took US off gold standard
floated (devalued) the dollar

Question 14

what caused the 1973 oil crisis?

Answer 14

tensions with OPEC countries

Question 15

in 1974 what % was inflation at?

Answer 15

12%

Question 16

in 1974 what % was production down?

Answer 16

15%

Question 17

in 1974 what % was unemployment?

Answer 17

9%