American Economy during WW2 Flashcards
When did the Lend Lease programme begin?
1941
What was the Lend Lease Programme?
It was America sending food, armed medicine and other equipment to Britain and later on in the war to the USSR and these good would be given back to America when the war finished
How many billions of dollars’ worth of materials were shipped abroad by the end of the year?
$50.1 billion
Why did the Lend Lease stimulate the American Economy?
The goods involved in lend lease were produced by American firms and as a result stimulated the economy
By 1944 how many of the weapons being produced in the world originated in America?
Nearly 50%
Did the leading industrialists support or oppose FDRs economic policies during the war?
Support
What did the FDR set up in 1942 to meet war productions needs?
The war production board
Why did wartime production improve the American economy?
America supplied a large amount of goods to its allies, such as Britain, the majority of which were produced by American firms and so created jobs. The American people now spent their wages and this helped the economy improve stimulating further growth in domestic industries
How many extra workers did General motors take on 1941-45?
0.75 million
How many new businesses were set up during WW2?
500,000
Name a business that became rich as a result of WW2?
Coca-Cola
What were war bonds?
Many Americans bought war bonds, which in practice lent money to the government. The government could then use this money to fund the war effort. These bonds were paid back at the end of the war with interest.
How much did Americans spend on bonds during the war?
$129 billion
What did the war do that FDR’s New Deal had failed to do?
End unemployment
