Post-WW2 economy Flashcards
What are two examples of aircraft manufacturers
McDonnell and Boeing
When did Sillicone Valley open
1951
What happened at the Bretton Woods Conference and when was it
1944
World trade was reshaped in a way that benefitted US
How much larger was GDP in 1960 than 1940
3x greater
How much outstanding credit in the US by 1960
$55bn
When were there dips in the US economy
After WW2 and before the Korean war
1960-1961
What did JFK promise he would do to boost the economy
Interventionist policy
What did the Area Development Act do
Gave aid to deprived areas
When was the Public Works Act and what did it do
1962
Allocated $900m for job creation in areas of high unemployment
Which federal act provided training for the unemployed
Manpower development and training act
What was the ‘Kennedy round’
Kennedy aimed to stimulate the international economy by working with Japan and the EEC to liberalise trad
How were Kennedy’s economic reforms limited
many were watered down by congress
which act set up a coorporation to develop satellite technology
1962 Telstar act
When was the first US space mission
1962
when did man land on the moon
1969
How much did Kennedy cut tax by in 1964
$10bn
What was economic growth at the end of 1963
above 5%
How many months of unbroken economic growth were there 1961-1969
106
How much did national debt increase by under Johnson
13% to $42bn
Who set up the Office for Economic Opportunity
Johnson
What did the OEO do
Provided help for small farmers, job training, further education
Which act gave subsidies to the deprived areas in Pennsylvania and Alabama
Appalachian Reigonal Development Act
What economic policies did Nixon implement
Wage and price freeze, higher tariffs, removed gold standard, devalued the dollar
Inflation in 1974
12%
