Economic Developments: Spending allocation and Chancellors from 1957-64

Question 1

What form of running the economy was sustained in this era?

Answer 1

Stop-Go economics

Question 2

How many Chancellor’s of the Exchequer did Macmillan have in 6 years?

Answer 2

4

Question 3

What years was Thorneycroft the Chancellor from?

Answer 3

1957-58

Question 4

What years was Heathcote-Amory the Chancellor from?

Answer 4

1958-60

Question 5

What years was Lloyd the Chancellor from?

Answer 5

1960-62

Question 6

What years waas Maudling the Chancellor from?

Answer 6

1962-4

Question 7

What is budget politics?

Answer 7

Budgets made before an election to get more votes

Question 8

What is Stagflation?

Answer 8

When inflation increases but industry productivity does not

Question 9

Which country had the lowest GDP growth rate in Western Europe?

Answer 9

Britain

Question 10

What was Britains average GDP Growth rate from 1951-64?

Answer 10

2%

Question 11

Why was Britain’s economic performance weak at the time of the mid-late 1950s?

Answer 11

Heavy defence expenditure

Question 12

What percentage of Britain’s GDP was spent on defence in 1964?

Answer 12

10%

Question 13

How much of Britain’s R&D Spending went to defence?

Answer 13

35%

Question 14

How much of America’s R&D spending went to defence?

Answer 14

40%

Question 15

How much of France’s R&D spending went to defence?

Answer 15

4%