America Economy during the war Flashcards
What happened to the American economy during the Second World War?
The American economy recovered and grew.
When was the Lend Lease programme introduced?
March 1941
How did the Lend Lease programme work?
The U.S. loaned war materials to its allies (e.g. Britain, France, the Soviet Union). Most war goods not destroyed were returned after the war.
Give three examples of materials that the U.S. sent to its allies under Lend Lease.
(1) Arms (weapons, vehicles etc.); (2) food; (3) medicine
Altogether, what was the value of the war materials shipped to other countries under Lend Lease ($)?
$50.1 billion
How many new businesses started up during the war?
More than 500,000
How many Americans worked in factories during WWII?
14 million
By how much did General Motors increase its workforce by during the war?
750,000
How many workers moved from the rural south to work in factories in the north during the war?
4 million
What group did Roosevelt set up in January 1942 to boost wartime production?
The War Production Board
Who was asked to attend the War Production Board?
America’s leading industrialists (major business owners).
What percentage of America’s industrial contracts went to the top 100 firms?
80%
Give two examples of companies who prospered during the war
(1) Coca-Cola; (2) Wrigley’s
What were Americans encouraged to invest their income in during the war?
War bonds
What happened when Americans bought war bonds?
After the war, the bonds were paid back by the government with interest.
