the war and the economy Flashcards
the collapse of unemployment
unemployment effectively ceased by 1942 AND UNEMPLOYMENT FELL TO 1.2%
how much did GNP increase from 1939 to 1945
GNP rose from $91bn in 1939 to $166.6 in 1945
how did roosevelt help pay for war production
roosevelt hoped to pay for much of the war production by increased taxes and the sale of war bonds
how much of the war did war bomds pay for
during ww2 185.7bn war bonds were purchased to help fund the war. as a result, war bonds paid for 50% of the war
when was the office of war mobilisation set up
The office of war mobilization was set up in 1943 to control production nd food prices. items such as meat sugar and petrol were rationed and clothes were made from less material
how much did priced raise during ww2
although prices rose 28% during the war years, wages increased by 40%. consequently, this helped to fuel the post war boom period
why did new industries develop
new industries developed through the demands for war production. this included advanced electronics and telecommunications
how much of the economy was dedicated to war production
the most significant industrial groth was in armaments and weaponry. as the usa began its reamrmanent programme. 33% of the economy was dedicated to war production by 1941
how was war production initially achieved
war production was initially achieved by changing the production of existing factories. for example, the production of cars was stopped and switched to the production of tanks and aircraft
how much of the war industry was the automobile industry producing
20%
in 1944 the usa built 96,000 aircraft and 300,000 over the course of the war
