Impacts Of WW2 On The Economy

Question 1

How did the role of the government change?

Answer 1

They could take much more control over people’s lives. They controlled wages, prices of food, and even where people worked

Question 2

What did US spending total in 1941 compared to 1945?

Answer 2

1941: $6.1 billion 1945: $64.5 billion

Question 3

The percentage of gross domestic product rose from what in 1941 to what in 1945?

Answer 3

1941: 5.1% 1945: 37.2%

Question 4

How much did the economy grow from 1941-1945?

Answer 4

73%

Question 5

What was unemployment in 1940 compared to 1944?

Answer 5

14.6% in 1940 to 1.2% in 1944

Question 6

During WW2, the highest earners payed what % tax?

Answer 6

94%

Question 7

The average wage increased by what % in the war?

Answer 7

40%

Question 8

What did the lend-lease agreement mean?

Answer 8

The US could provide Britain, France and Russia with everything they needed to fight the war and debts would be settled after the war

Question 9

How did Hollywood stars contribute to the war effort?

Answer 9

They made films encouraging people to contribute by buying war bonds to help the war effort