Economic post war reconstruction

Question 1

What was the IMF ?

Answer 1

The International monetary fund

Question 2

What was the IMF’s role ?

Answer 2

This system promised to step in if countries experienced economic hardship.

Question 3

When and Where was the IMF created ?

Answer 3

1st July 1944 - Bretton Woods, New Hampshire

Question 4

How much money did Truman contribute to the IMF scheme under his presidency ?

Answer 4

around $3 billion

Question 5

Who was the GI bill passed by ?

Answer 5

Roosevelt

Question 6

What was the purpose of the GI bill ?

Answer 6

This provided government help to ex soldiers in getting a 90% mortgage as well as a guaranteed job for a year and loans for college education

Question 7

How much did Truman’s government invest into the GI bill ?

Answer 7

$20 billion

Question 8

How many soldiers took advantage of the GI bill ?

Answer 8

7.8 million

Question 9

What evidence is there to show how the GI bill was discriminatory towards African Americans ?

Answer 9

only 1/5 of the 100,000 Black men who applied for the educational fund succeeded.

Question 10

What level did inflation reach in 1945 as Soldiers returned home from war ?

Answer 10

25%

Question 11

How many American workers took part in the strike wave from 1945-1946 ?

Answer 11

5 million

Question 12

in 1946, how many steel workers went on strike for several months ?

Answer 12

750,000

Question 13

What did the employment act of 1946 do ?

Answer 13

demanded congress to work for full employment and production.

Question 14

How many levittown houses were purchased in the first 3 hours of going on sale ?

Answer 14

1400

Question 15

How were Levittowns discriminatory towards African Americans ?

Answer 15

The houses were sold with a covenant that they could not be sold to Black people

Question 16

In 1948, due to War bonds maturing, how much money was paid back to those who had brought the bonds ?

Answer 16

$185 million - thereby injecting money into the economy

Question 17

What did the Fair Labour standards amendment do of 1949 ?

Answer 17

moved the minimum wage up from 45c an hour to 70c an hour

Question 18

What was the Fair Labour standards amendment part of ?

Answer 18

Truman’s fair deal

Question 19

By 1950, what level had unemployment reached ?

Answer 19

5%

Question 20

How many more people became covered in the Social security act of 1950 ?

Answer 20

10.5 million

Question 21

In 1952, What did Truman boast about to congress in terms of total output ?

Answer 21

That the total output of the country had increased 90% on 1939 levels

Question 22

In 1952, What did Truman boast about to congress in terms of industrial output ?

Answer 22

had doubled on 1939 levels

Question 23

In 1952, What did Truman boast about to congress in terms of agricultural output ?

Answer 23

increased by 1/3 rd on 1939 levels

Question 24

In 1952, What did Truman boast about to congress in terms of business investment rate ?

Answer 24

Had risen from an annual rate of $14 billion to almost $38 billion from 1939 levels

Question 25

By 1952, How much had the income per capita of Americans increased to ?

Answer 25

40%

Question 26

By 1952, How much had employment numbers risen by ?

Answer 26

from 46 million to an average of 61 million

Question 27

How had the numbers of Americans living in poverty changed by 1952 under the presidency of Truman ?

Answer 27

decreased from 33% of Americans living in poverty to 28%

Question 28

By 1952, What had Truman’s approval rating reached a low of ?

Answer 28

22%

Question 29

By 1952, what did Steelworkers threaten ?

Answer 29

another strike

Question 30

How did the government debt compare from 1946 to 1952 ?

Answer 30

1946 = $269 billion

1952 = $266 billion

Question 31

How did Inflation compare from 1946 to 1952 ?

Answer 31

1946 = 18%

1952 = 1%

Question 32

How did unemployment levels compare from 1946 to 1952 ?

Answer 32

1946 = 4.1%

1952 = 2.5%

Question 33

What was the cause for an increase in demand for housing and a new market for goods and services in 1945 ?

Answer 33

Baby boom - population increased by 40 million from 1945 - 1960

Question 34

What act did Truman veto but it was still passed regarding the power of unions ?

Answer 34

The Taft Hartley act (passed 1947)

Question 35

What did the Taft Hartley act do ?

Answer 35

Restricted the activities and power of Labor unions

Question 36

Truman was unsuccessful in setting up national _______ insurance

Answer 36

health