How Far Did The US economy Transform 1945-55 Flashcards
What was the state of the US economy at the end of World War II?
The USA dominated the world economy, while Germany and Japan were devastated.
What happened to Germany’s economy after World War II?
It suffered heavy bombing and fighting that destroyed factories, housing, and roads.
What was the impact of the war on Japan’s economy?
Japan experienced heavy bombing and a major economic blockade that severely damaged production.
How did the US economy perform after 1945?
It continued its exceptional growth rate after the war.
What effect did the expansion of the US economy have on employment opportunities?
It increased employment opportunities for many Americans.
What industries continued to grow into peacetime after World War II?
The aircraft and shipbuilding industries.
What was the significance of the Berlin Airlift Crisis?
It was an international crisis that led to the creation of NATO and the division of Germany.
What was the Korean War?
The first major armed confrontation in the Cold War where North Korea invaded South Korea.
What was the production trend of cars from 1946 to 1955?
Car production increased from two million in 1946 to eight million in 1955.
What was one of the major indicators of consumer demand in the post-war US economy?
Demand for cars.
How did the growth of the clerical sector affect job opportunities for women?
It opened up greater job opportunities for women, who were under-represented in manufacturing.
What was the number of shopping centers in the USA in 1945 compared to 1960?
In 1945, there were eight shopping centers; by 1960, there were almost 4,000.
Fill in the blank: The new shopping centers sold _______.
[televisions, washing machines, dishwashers, refrigerators, toasters, and other labour-saving domestic appliances]
What led to increased demand for oil in the USA during the post-war period?
The expansion of major corporations like General Motors, Ford, and Chrysler.
True or False: The US economy was in a period of military preparedness after World War II.
True.
What were the years of the Korean War?
1950-1953.
What was the outcome of the Korean War by 1953?
A ceasefire was agreed, and the border remained approximately the same.
What significant act outlawed school segregation in 1954?
Brown v. Board of Education.
What was the Federal Highways Act?
A law that contributed to the development of the US highway system.
What was the state of the US economy at the end of World War II?
The USA dominated the world economy, while Germany and Japan were devastated.
What happened to Germany’s economy after World War II?
It suffered heavy bombing and fighting that destroyed factories, housing, and roads.
What was the impact of the war on Japan’s economy?
Japan experienced heavy bombing and a major economic blockade that severely damaged production.
How did the US economy perform after 1945?
It continued its exceptional growth rate after the war.
What effect did the expansion of the US economy have on employment opportunities?
It increased employment opportunities for many Americans.
What industries continued to grow into peacetime after World War II?
The aircraft and shipbuilding industries.
What was the significance of the Berlin Airlift Crisis?
It was an international crisis that led to the creation of NATO and the division of Germany.
What was the Korean War?
The first major armed confrontation in the Cold War where North Korea invaded South Korea.
What was the production trend of cars from 1946 to 1955?
Car production increased from two million in 1946 to eight million in 1955.
What was one of the major indicators of consumer demand in the post-war US economy?
Demand for cars.
How did the growth of the clerical sector affect job opportunities for women?
It opened up greater job opportunities for women, who were under-represented in manufacturing.
What was the number of shopping centers in the USA in 1945 compared to 1960?
In 1945, there were eight shopping centers; by 1960, there were almost 4,000.
Fill in the blank: The new shopping centers sold _______.
[televisions, washing machines, dishwashers, refrigerators, toasters, and other labour-saving domestic appliances]
What led to increased demand for oil in the USA during the post-war period?
The expansion of major corporations like General Motors, Ford, and Chrysler.
True or False: The US economy was in a period of military preparedness after World War II.
True.
What were the years of the Korean War?
1950-1953.
What was the outcome of the Korean War by 1953?
A ceasefire was agreed, and the border remained approximately the same.
What significant act outlawed school segregation in 1954?
Brown v. Board of Education.
What was the Federal Highways Act?
A law that contributed to the development of the US highway system.
What are white-collar workers?
Workers who work in offices doing clerical, secretarial or managerial work.
What was the impact of advertising on the US economy during the 1950s?
Advertising expenditures increased significantly, leading to numerous job opportunities.
How did technological developments in aviation affect employment?
The development of jet engines and aviation technology led to a decline in the importance of traditional manufacturing jobs and increased demand for aeronautical engineering positions.
What was the significance of the first general-purpose computer?
Produced by Harvard University in association with IBM, it had 500 miles of wiring and marked the beginning of the communications and data revolution in US business.
What was the trend in white-collar jobs compared to blue-collar jobs between 1947 and 1952?
The white-collar workforce increased by 50 percent, while blue-collar jobs in the chemical industry only increased by 3 percent.
What role did government policies play in US economic growth post-World War II?
The federal government stimulated economic growth through increased defense spending and support for industries that emerged during the war.
What was the effect of the Cold War on government spending?
It led to increased federal government spending and a concentration of industrial power in a few large corporations.
What was the Taft-Hartley Act of 1947?
A law that outlawed closed shops and restricted union practices, requiring union leaders to take oaths regarding political contributions.
What benefits did the GI Bill provide to veterans?
It offered guaranteed loans for businesses, low-interest mortgages for homes, and educational opportunities, stimulating economic growth.
How many home loans were made by 1956 due to the GI Bill?
4.3 million home loans with a combined value of $33 billion.
What was the cost of the GI Bill to the federal government?
$14.5 billion between 1944 and 1956.
What was the GNP of the US in 1950?
$284.8 billion.
What was the percentage change in GNP from 1946 to 1950?
+11%.
What is a slang term for a member of the US armed forces?
GI, derived from ‘government issue.’
What was the impact of car production in the USA between 1946 and 1955?
Car production quadrupled, with the USA producing two-thirds of the world’s cars by 1950.
The industry was dominated by General Motors, Ford, and Chrysler, all based in Detroit, Michigan.
How did car ownership affect American mobility?
The widespread availability of cars led to greater mobility for Americans and contributed to the growth of suburbs around towns and cities.
What role did credit purchasing play in car sales during this period?
Car sales were fueled by a major increase in credit purchasing, with short-term credit rising from $8.4 billion in 1946 to $45.6 billion in 1958.
What innovations did car manufacturers introduce to stimulate demand?
Manufacturers introduced new models each year with innovations like tail fins, two-tone colors, extra chrome, and white-walled tires.
What was the significance of the GI Bill for suburban development?
The GI Bill assisted veterans in acquiring mortgages, leading to increased demand for suburban housing.
Who was William Levitt and what was his contribution to suburbia?
William Levitt developed Levittown, building 10,600 houses quickly using prefabricated materials, making suburban living attractive.
What was the racial policy in Levittown?
Levitt ensured that homes were sold only to whites, leading to a racially segregated community that was declared illegal in the 1960s.
What changes in lifestyle did new suburban developments bring?
Suburban developments offered ranch-style housing with front lawns and backyards, a significant change from inner-city living.
What was the economic situation in the USA by 1955?
By 1955, the USA had a significant number of cars, televisions, and swimming pools, but a portion of the population still lived below the poverty line.
What was the average family income in suburbia by 1955?
$6,500, which was 70 percent higher than the rest of the country.
What new consumer society features emerged in the USA by 1955?
Suburban housing developments, cars, televisions, and easy consumer credit.
What impact did cars have on American society in the 1950s?
Cars led to greater mobility, encouraging the development of drive-in restaurants, drive-in movie theatres, and out-of-town shopping centres.
What fast food outlet was created in 1954 to meet the demand for eating out?
McDonald’s was born.
What percentage of Americans lived below the poverty line in 1960?
Nearly 40 million Americans, or 22 percent of the population.
What was a consequence of middle-class families moving to the suburbs?
Inner cities fell into economic decline and became associated with crime and poverty.
What year did Levitt build 10,600 houses?
In 1948.
What was the significance of the suburban housing developments?
They represented a great opportunity for economic growth and home ownership.
What was the poverty line for a family of four in 1960?
$3,000 a year.
What was a key factor in the economic transformation of the USA post-1945?
Government policies that encouraged economic growth.
