AMERICAN IMPERIALISM 1890 1919
THE UNITED STATES IN WORLD WAR I
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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was largely uncontrolled by the federal government
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was not as serious a problem as it had been during World War I
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was less a concern than fears of deflation
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was at its highest in the last year of the war
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remained low before 1941
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Detailed explanation-1: -When Volcker left office in August 1987, inflation was down to 3.4 percent from its peak of 9.8 percent in 1981, after the first Volcker recession failed to drive prices down. Persistent low inflation has been the norm ever since; the US has never had inflation above 5 percent since September 1983-until 2022.
Detailed explanation-2: -The war brought full employment and a fairer distribution of income. Blacks and women entered the workforce for the first time. Wages increased; so did savings. The war brought the consolidation of union strength and far-reaching changes in agricultural life.
Detailed explanation-3: -Inflation raises prices, lowering your purchasing power. Inflation also lowers the values of pensions, savings, and Treasury notes. Assets such as real estate and collectibles usually keep up with inflation. Variable interest rates on loans increase during inflation.