Unit 2: Topic 2: The economy in the 1950s and the Consumer Society Flashcards

1
Q

How did GDP increase?

A
  • 1950- $350 billion
  • 1960- $500 billion
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2
Q

H

How did per capita income rise?

A
  • 1940- $1700
  • 1960- $2700
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3
Q

How much did the economy grow in the 1950s?

A

37%

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4
Q

How did real income rise 1945-60?

A

25%

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5
Q

How mcuh did housing increase over the 1950s?

A

27%

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6
Q

How much more purchasing power did the typical American family have in 1960 than in 1950?

A

30%

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7
Q

How much was unemployment in 1957?

A

4.5%

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8
Q

What was hte average inflation rate during Eisenhower’s Presidency?

A

2%

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9
Q

How many Americans lived in poverty?

A

1/4

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10
Q

How much of America’s poor was in the South?

A

1/2

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11
Q

When were the recessions during Eisenhowers Presidency?

A
  • 1953
  • 1957-8
  • 1960
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12
Q

When did Eisenhower achieve a balanced budget?

A
  • 1956
  • 1957
  • 1960.
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13
Q

What were the effects of the 1957 to 1958 recession?

A
  • Unemployment rose from 4.5 percent to 7.5%.
  • Production fell by 14%.
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14
Q

When did Stalin die?

A

1953

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15
Q

Who was the new soviet premier after Stalin?

A

Khruschev

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16
Q

How did the number of shopping malls increase?

A
  • 1945- 8
  • 1960- 40,000
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17
Q

Who franchised McDonalds?

A

Ray Kroc

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18
Q

What were the main reasons for economic growth?

Hint: there’s 8

A
  1. International/ economic events
  2. Industry/consumerism
  3. Eisenhower/ government policy
  4. The construction industry/ suburbs
  5. The baby boom/ teenage demographic
  6. Cars
  7. The growth of credit
  8. The growth of advertising/ TV
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19
Q

What was the average inflation rate?

A

2%

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20
Q
A
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21
Q

When did Eisenhower achieve a balanced budget?

A
  • 1956
  • 1957
  • 1960.
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22
Q

How did Eisenhower’s budget change Truman’s defence expenditure defecit?

A
  • 1954
  • Reduced the defence expenditure by $5 billion
  • Cut the $10 billion budget defecit by half.
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23
Q

How much was government spending on the military sector?

A

Still $40 billion

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24
Q

When was the GI bill?

A

1944

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25
Q

How many years of college education was given under the GI bill?

A

4 years

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26
Q

How many houses did the GI Bills mortgage assistance finance over how long?

A
  • 20%
  • 1946-66
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27
Q

When was the federal highways act?

A

1956.

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28
Q

How much money was spent on the federal highway act?

A

$26 billion

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29
Q

How many miles of road were built by the federal highway act and how long did it take?

A
  • 41,000 miles
  • 20 years
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30
Q

How much did defence expenditure rise as a result of Eisenhower’s dynamic conservatism?

A
  • 1953- 31%
  • 1961- 49%
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31
Q

How much did government expenditure increase by under Eisenhower?

A

11%

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32
Q

What caused Eisenhower to increase government expenditure?

A
  • The Space Race
  • The Soil Bank
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33
Q

How many recessions were there during Eisenhower’s presidency?

A

3 recessions

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34
Q

Who built Levittowns?

A

The Levitt Brothers

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35
Q

When was the first Levittown built?

A

1947

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36
Q

How many homes did the first Levittown have?

A
  • 17,000 homes
  • 80,000 residents
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37
Q

```

How much did a home in a Levittown cost?

A

$8,000- 2.5x average family income

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38
Q

How many of the new homes constructed were built in the suburbs and when?

A
  • 1948
  • 11 million/ 12 million built in hte suburbs
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39
Q

When was the baby boom?

A

1946-1960

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40
Q

How much did the population increase by?

A
  • 1950- 150 million
  • 1960- 180 million
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41
Q

When did the boomers enter their teenage years?

A

1950s

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42
Q

Which magazine claimed teenagers were a powerful economic force and how much did it claim they were?

A
  • Life Magazine
  • $10 billion dollar power
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43
Q

How much did life magazine claim teenagers spent on different products?

A
  • 20 million record players
  • $25 million on deoderant
  • Ate 20% more than adults
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44
Q

Whose poetry and novels were targetted at teenagers?

A

The Beat Generation

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45
Q

Which Hollywood film was about teenagers and when was it released?

A

Rebel without a cause- 1955

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46
Q

Which car company arranged credit terms for its cars?

A

General Motors

47
Q

How many people did the automobile industry employ?

A

100,000

48
Q

How did car sales increase?

A
  • 1949- 5.1 million vehicles a year
  • 1955- 7.9 million
49
Q

When was the interstate highways act?

A

1956

50
Q

How many of those living in the suburbs owned a car?

A

90%

51
Q

What was the first out of town shopping mall?

A

The Southgate Centre

52
Q

When did Holiday Inn open?

A

1952

53
Q

When was McDonalds franchised and how many were there by when?

A
  • 1955- franchised
  • 1960- 228
54
Q

Who franchised McDonalds?

A

Ray Kroc

55
Q

How many new cars were manufactured and scrapped in 1955?

A
  • 7.9 million manufactured
  • 4.5 million scrapped
56
Q

Which organisations provided low-interest loans for housing?

A
  • Federal Housing Administration
  • The Veterans Administration
57
Q

Which company provided loans for cars?

A

General Motors

58
Q

When was the first credit card launched and what was it called?

A

1950- The Diner’s Club

59
Q

Which major credit card company was launched and when?

A
  • American Express
  • 1958
60
Q

How did priviate debt increase

A

Doubled from 105 billion to 263 billion

61
Q

How did advertising grow?

A
  • 1950- $6 billion annually
  • 1963- $13 billion
62
Q

Which ‘public relations expert’ inspired advertising?

A

Edward Bernays

63
Q

When did Disney open a theme park?

A

1955

64
Q

When did I Love Lucy start?

A

1951

65
Q

How many viewers did I Love Lucy gain?

A

13 million

66
Q

Which 1950s sitcom promoted conformity?

A

Father Knows Best

67
Q

When did Nixon and Khruschev hold the Kitchen debates debating Capitalism vs Communism?

A

1959

68
Q

When did Eisenhower arrange for Khrushchev to fly in a helicopter over America to see the success of the American economy?

A

1959

69
Q

Which sector of the American economy increased during the 1950s?

A

The tertiary structure

70
Q

How many different types of workers were there in 1960?

A
  • 8 million service workers
  • 21 million white collar workers
  • 26 million blue collar workers outnumbered
71
Q

How did the number of industrial workers decline in the 1950s?

A

39% to 36% of the workforce

72
Q

Name some rich American families?

A
  • Gettys
  • Rockefellers
73
Q

Name 3 successful entrepeneurs during the 1950s?

A
  • Ray Kroc- fast food
  • Lucille Ball- media
  • Sam Walton- retail
74
Q

What was the first shopping mall and when was it opened?

A
  • The Southdale Centre
  • 1956
75
Q

How many stores were in the first shopping mall?

A

72 stores

76
Q

When was the first Holiday Inn opened?

A

1952

77
Q

When was McDonalds franchised and how many were there by when?

A
  • 1955- franchised
  • 1960- 228
78
Q

Who franchised McDonalds?

A

Ray Kroc

79
Q

How much of each consumer good did each Americans own by 1956?

A
  • 73%- car
  • 81%- TV
  • 96%- fridge
  • 87%- washing machine
80
Q

How many suburbans owned a car?

A

90%

81
Q

How many cars were manufactured and scrapped in 1955?

A
  • 8 million- manufactured
  • 5 million- scrapped
82
Q

What did polls show about the favourite leisure activity of Americans?

A

50% enjoyed TV

83
Q

How many American homes had a TV by 1960

A

90%

84
Q

When was the Disney Theme Park opened?

A

1955

85
Q

When did I Love Lucy begin?

A

1951

86
Q

How many households was I Love Lucy watched in?

A

13 million

87
Q

Which Hollywood film was about teenagers and when was it released?

A

Rebel without a cause- 1955

88
Q

Who franchised McDonalds?

A

Ray Kroc

89
Q

Which 1950s sitcom promoted conformity?

A

Father Knows Best

90
Q

Which Hollywood film was about teenagers and when was it released?

A

Rebel without a cause- 1955

91
Q

How did advertising grow?

A
  • 1950- $6 billion annually
  • 1963- $13 billion
92
Q

Which ‘public relations expert’ inspired advertising?

A

Edward Bernays

93
Q

Which 1950s sitcom promoted conformity?

A

Father Knows Best

94
Q

Which advertising campaign did Eisenhower use for which election?

A
  • Eisenhower answers America
  • 1952
95
Q

How many of the worlds cars did Americans own by 1960?

A

1/2

96
Q

How much of each consumer good did each Americans own by 1956?

A
  • 73%- car
  • 81%- TV
  • 96%- fridge
  • 87%- washing machine
97
Q

How many American families owned a television by 1960?

A

90%

98
Q

How many weeks of paid holiday did each American have a year?

A

2 weeks

99
Q

Which group of novellists and poets glorified spontaneity, sex, drug use and spirituality?

A

The Beat Generation

100
Q

Which famous novel was part of the Beat Generation?

A

Howl by Allen Ginsberg

101
Q

Which artist and musician had a rebellious streak?

A
  • Jackson Pollock
  • Bob Dylan
102
Q

Which Hollywood film was about teenagers and when was it released?

A

Rebel without a cause- 1955

103
Q

When were the recessions during Eisenhowers Presidency?

A
  • 1953
  • 1957-8
  • 1960
104
Q

What were the effects of the 1957 to 1958 recession?

A
  • Unemployment rose from 4.5 percent to 7.5%.
  • Production fell by 14%.
105
Q

How many Americans lived in poverty?

A

1/4

106
Q

How much of the countries poor did the South have?

A

1/2

107
Q

Which intellect sought to expose ‘invisible poverty’ and found poverty statistics?

A

Michael Harrington

108
Q

Which sociologist wrote a book about the lack of awareness of poverty in America and what was the book called?

A
  • Michael Harrington
  • The Other America
109
Q

Who argued consumerism adn materialism were becoming central to American identity and undermining traditional American values?

A

WDavid Riesman

110
Q

Who wrote a book arguing Americans were materialistic and uncaring for the poor and what was it called?

A
  • The Affluent Society
  • J.K Galbraith
111
Q

Who argued advertising was as socially influential as education adn religion?

A

David Potter

112
Q

Who wrote a book arguing advertisements psychologically manipulated customers?

A

The Hidden Persuaders

113
Q

Who wrote a play critiquing the corperate American lifestyle and what was it called?

A
  • Arthur Miller
  • Death of a Salesman
114
Q

Which play was published about the pressure of family?

A

A Streetcar named Desire.