Economic Developments: The War Economy

Question 1

Why was the USA managing a war economy initially a challenge?

Answer 1

Because the USA had to organise their involvement in a war that had already been fought for 3 years

Question 2

What was created during WWI to help raise funds?

Answer 2

War bonds

Question 3

Name a specific person used to advertise war bonds

Answer 3

Charlie Chaplin

Question 4

When did Wilson set up the War Industries Board?

Answer 4

1917

Question 5

What was the purpose of the War Industries Board?

Answer 5

To organise the economy efficiently during WWI

Question 6

What was the purpose of the 1917 War Revenue Act?

Answer 6

To increase spending on the war

Question 7

How can the War Revenue Act be seen to be effective?

Answer 7

In 1916, $1 million a year was spent but in 1918, $15 million was spent

Question 8

Who was head of the Agriculture Section of the War Industries Board?

Answer 8

Herbert Hoover

Question 9

What did Herbert Hoover implement to help farmers?

Answer 9

He put wheat bushel prices up to $2.20

Question 10

How much did farmers’ incomes increase from 1915 to 1918?

Answer 10

30%

Question 11

What concept did Hoover create for Mondays with eating food?

Answer 11

Meatless Mondays

Question 12

How can it be seen that there was still some inefficiency with managing industry efficiency during WWI?

Answer 12

One ship-building company in Philadelphia only finished their first warship after the war had ended

Question 13

What was income tax put up to during WWI?

Answer 13

75%

Question 14

What was inheritance tax put up to during WWI?

Answer 14

25%