Economic Developments: The USA experience of WWII Flashcards
How much money in taxes did the Federal Government collect in 1932?
$2 billion
How much money did the Federal Government collect in taxes in 1945?
$45 billion
What was the highest rate of income tax put to during WWII?
Put to 95%
How much did prices and wages go up by during WWII?
Prices went up by 30%, wages went up by 40%
When did the Office of War Mobilization start enforcing price controls on consumer goods? (To the month)
March 1942
How many military aircraft did Britain try to buy from the USA in 1940?
14,000 military aircraft
What percentage of food products had price controls on it due to the Office of War Mobilization?
90% of food products
What act did Franklin Roosevelt create after 1940 to help allied countries buy munitions?
Lend Lease Act
What happened in 1940 when Britain tried to buy the 14,000 military aircraft?
They were unable to pay up front
What year was the Lend Least Act passed?
1941
What did the Lend Lease Act do?
It allowed allied nations to pay for munitions later rather than up front
Name 2 nations under the 1941 Lend Lease Act
Britain, France
In what year did the USA spend 15% of their GDP on defence?
1942
In what year did the USA spend 5% of their GDP on defence?
1941
How much of the GDP did the USA spend on defence in 1945?
37%
What percentage of the American workforce were unemployed in 1939?
17%
What percentage of the American workforce were unemployed in 1940?
14%
What percentage of the American workforce were unemployed in 1943?
2%
What percentage of the American workforce were unemployed in 1944?
1%
In what year during WWII did 6 million women join the American workforce?
1944
What was a limitation of female employment after World War II?
They returned back to their traditional roles
What percentage of women were employed by 1945?
60%
What percentage of employees in munitions were women during WWII?
50% of employees
What percentage of mens wages did women get paid during WWII?
50% of mens wages
By what factor did the amount of African Americans working for the federal government increase by from 1939 to 1945?
Increased by a factor of 4
How many planes did the USA make during WWII?
300,000 planes
How many tanks and rifles did the USA make during WWII?
90,000 tanks, 15 million rifles
What was the Gross National Product value in the USA in 1941?
$91 billion
What was the Gross National Product value in the USA in 1945?
$166 billion
By what percentage did the income of farmers go up by from 1941 to 1945?
250%
What was the significance of the amount of money the federal government spent from 1941 to 1945?
They spent twice as much from 1941 to 1945 as they had from 1790 to 1940
What was the highest rate of income tax put up to during WWII?
95%
How many Soviets died during WWII?
20 million
How many Americans died during WWII?
400,000
What system for the global economy was created in 1944?
Bretton Woods system
What did the Bretton Woods system do?
It made the US dollar the standard global currency
What was the IMF made under the Bretton Woods system?
International Monetary Fund
What year was the Bretton Woods system created?
1944
What percentage of the world’s gold reserves did the USA own in 1949?
70%
By how many points did the German index of consumer spending decrease during WWII?
Decreased by 20 points
By how many points did the American index of consumer spending increase during WWII?
Increased by 25 points
What year was the Wagner Act passed and what did it do?
1935, it made joining a trade union legal
How much did trade union membership in the USA increase from 1935 to 1940?
Increased by 200%
Name a trade union that got a larger influence in politics during WWII
American Federation of Labor
What organization (CIO) became more prominent during WWII?
Congress of Industrial Organizations
What policy did the Congress of Industrial Organizations commit themselves during WWII?
A no-strike policy
How many women joined the workforce in 1944 alone?
6 million
What did Civil Rights activist A Philip Randolph threaten in 1941?
Threatened to do a march opposing racial discrimination in jobs
What did Franklin Rooseevelt pass to respond to A. Phillip Randolph’s threat?
Executive Order 8802
What did Executive Order 8802 do?
It banned racial discrimination in the defence industry
What year was Executive Order 8802 passed?
1941
What commission did Executive Order 8802 set up (FEPC)
Fair Employment Practices Commission
What percentage of discrimination cases was the Fair Employment Practices Commission successful with in the North?
66% of cases
What percentage of discrimination cases was the Fair Employment Practices Commission successful with in the West?
50% of cases
How many cases did the Fair Employment Practices Commission work on?
8000 cases
