COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The value of the dollar decreased.
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Factories began producing consumer goods.
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Most women refused to return to household roles.
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The Germans paid reparations.
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Detailed explanation-1: -Wartime production had helped pull America’s economy out of depression, and from the late 1940s on, young adults saw a remarkable rise in their spending power. Jobs were plentiful, wages were higher, and because of the lack of consumer goods during the war, Americans were eager to spend.
Detailed explanation-2: -Driven by growing consumer demand, as well as the continuing expansion of the military-industrial complex as the Cold War ramped up, the United States reached new heights of prosperity in the years after World War II.
Detailed explanation-3: -The post-Second World War economic boom was an era of considerable prosperity that followed the recovery period and ended with the 1973-1975 Recession. These years are also referred to as the “Golden Age of Capitalism” in the West, although Eastern Europe and parts of Asia also saw significant growth in these years.
Detailed explanation-4: -Whilst European economies suffered during the First World War, the USA experienced significant growth. US banks loaned money to Europe and businesses sold much needed goods. The war also provided a stimulus for inventions in production, materials and advertising.
Detailed explanation-5: -In the first four years after the war, Americans moved into over one million new homes annually. Spending on furniture and appliances increased by 240%. Each year, American families bought millions of cars, refrigerators, stoves, and televisions. Not everyone could afford the most expensive items.