P+D Problems Inflation

Question 1

How high was inflation from 1925-1926?

Answer 1

25%

Question 2

Between which years did inflation get to 25%

Answer 2

1925-1926

Question 3

In 1946, what did Truman use to control prices?

Answer 3

Roosevelt’s Office of Price Administration

Question 4

What does OPA stand for?

Answer 4

Office of Price Administration.

Question 5

What was the Office of Price Administration first created?

Answer 5

1941

Question 6

When was the Wagner Act passed?

Answer 6

1935

Question 7

Can you name an act that assisted the creation and wok of labour unions?

Answer 7

The Wagner Act

Question 8

In 1945 how many workers were unionised?

Answer 8

15 million

Question 9

In which year were 15 million workers unionised?

Answer 9

1945

Question 10

in 1945 what percentage of the non-agricultural workforce is unionised?

Answer 10

36%

Question 11

Inflation (6)

Answer 11

1. How did the relationship between Labour and Business change post 1945? (2)
2. Tensions (4)
3. Why did Truman allow some prices to rise? (3)
4. Inflation in Post-War America (3)
5. Truman’s Attempts to Combat Inflation (3)
6. Union Power in Roosevelt Years (3)

Question 12

Inflation (6)
1. How did the relationship between Labour and Business change post 1945? (2)

Answer 12

a. During WW2 Truman was controlling prices and wages but union leaders agreed to not strike because of war efforts. (1)
b. It was worse.

Question 13

Inflation (6)
1. How did the relationship between Labour and Business change post 1945? (2)
a. During WW2 Truman was controlling prices and wages but union leaders agreed to not strike because of war efforts. (1)

Answer 13

i. Patriotism.

Question 14

Inflation (6)
2. Tensions (4)

Answer 14

a. Why Workers wants were happening? (4)
b. What do workers want? (2)
c. Businessmen would absolutely not want this because they would lose out twice over. They would want the opposite. (1)
d. Truman grew impatient with both groups. (1)

Question 15

Inflation (6)
2. Tensions (4)
a. Why Workers wants were happening? (4)

Answer 15

i. During war, tight lid on wages and process.
ii. It was fine during the war because it was the war but when it’s over, we want this to be better.
iii. Now strikes.
iv. Want to make up for all the years that was lost.

Question 16

Inflation (6)
2. Tensions (4)
b. What do workers want? (2)

Answer 16

i. They want Truman to keep prices stable. Stop inflation.
ii. They want higher wages.

Question 17

Inflation (6)
2. Tensions (4)
c. Businessmen would absolutely not want this because they would lose out twice over. They would want the opposite. (1)

Answer 17

i. Lower wages higher prices.

Question 18

Inflation (6)
2. Tensions (4)
d. Truman grew impatient with both groups. (1)

Answer 18

i. Because higher prices and higher wages would lead to more inflation.

Question 19

Inflation (6)
3. Why did Truman allow some prices to rise? (3)

Answer 19

a. Because all the businessmen want that for them.
b. He does want to hold them though because he has a large labour voting base.
c. He lets some prices rise and others he controls. (5)

Question 20

Inflation (6)
3. Why did Truman allow some prices to rise? (3)
c. He lets some prices rise and others he controls. (5)

Answer 20

i. Looks like a weak move.
ii. Confusing.
iii. This ends to him losing campaign later as people blame him.
iv. “to err is to Truman” campaign slogan.
v. Some markets might be doing better than others so some businessowners are gonna be really irritated.

Question 21

Inflation (6)
4. Inflation in Post-War America (3)

Answer 21

a. Federal government budget deficits.
b. Shortages of consumer goods
c. Inflation hit 25% during 1945-6

Question 22

Inflation (6)
5. Truman’s Attempts to Combat Inflation (3)

Answer 22

a. Truman sought to combat inflation through continued use of Roosevelt’s Office of Price Administration (OPA) in 1946 (2)
b. Conservative Democrats and Republicans sought the restoration of free market forces.
c. OPA weakened, causing prices to rise spectacularly.

Question 23

Inflation (6)
5. Truman’s Attempts to Combat Inflation (3)
a. Truman sought to combat inflation through continued use of Roosevelt’s Office of Price Administration (OPA) in 1946 (2)

Answer 23

i. Created in 1941 for during WW2.
ii. It established maximum prices and rents.

Question 24

Inflation (6)
6. Union Power in Roosevelt Years (3)

Answer 24

a. Wagner Act (1935) and wartime demand for labour increased union power. (2)
b. In 1945, 15 million workers were unionised.
c. Around 36% of non-agricultural workforce unionised.

Question 25

Inflation (6)
6. Union Power in Roosevelt Years (3)
a. Wagner Act (1935) and wartime demand for labour increased union power. (2)

Answer 25

i. Wagner Act was 1935 legislation.
ii. That assisted the establishment and work of labour unions.