HISTORY
WORLD WAR II
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It helped reduce the number of specialized services
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It decreased the number of labor unions in manufacturing industries
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It helped stimulate a financial market suffering from depression
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It increased demand for consumer products in the market
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Detailed explanation-1: -Mobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defense jobs.
Detailed explanation-2: -For the second half of the 20th century, the United States, Europe, and Japan experienced amazing gains. In fact, GDP per capita in Europe tripled in the second half of the twentieth century following the war. 1 America used its footing post-war to become a global superpower.
Detailed explanation-3: -The U.S. economy shrank by a third from the beginning of the Great Depression to the bottom four years later. Real GDP fell 29% from 1929 to 1933. The unemployment rate reached a peak of 25% in 1933. Consumer prices fell 25%; wholesale prices plummeted 32%.
Detailed explanation-4: -How did World War II end the Depression? The US government’s reaction to its entry into WWII was to institute massive deficit spending, and the conscription of all able bodied young men for the war effort, thus creating a full-employment economy which was the immediate end to the Great Depression.
Detailed explanation-5: -In the United States, where the Depression was generally worst, industrial production between 1929 and 1933 fell by nearly 47 percent, gross domestic product (GDP) declined by 30 percent, and unemployment reached more than 20 percent.