Chapter 2. Economic Developments

What did men’s weekly wages increase to by 1961?

• £16.35

• £14.35

• £15.35

• £18.35

Access to credit through ____ enabled more people to access consumer goods.

• equal opportunity

• hire purchase

• Private member’s bills

• affluence

Which places were there new towns

• Harlow, Essex

• Bognor Regis

• Kirkby, Liverpool

• Scotland

What kept the price of food low?

• Food rationing

• state subsidies to farming

• baby boom

• age of affluence

What festival occurred in 1951?

• Festival of Britain

• Festival of England

• Glastonbury

• Coachella

What is a balance of payments crisis?

• When a country imported more than it exports so more money enters the country than exits

• when a scale holding money is imbalanced

• When a country exports more than it imports so more money exits the country than enters

• A run on the pound

What is the stop in the ‘stop-go’ system

• Lower interest rates. Wages are allowed to rise and there are rising imports

• high interest rates. Wages are allowed and output decreases

• The government raises interest rates and wages are frozen. Output decreases.

• Lower interest rates. Wages are frozen and there are rising imports

Which one of these ministers was for ‘stop-stop’?

• Heathcoat-Armory

• Peter Thorneycroft

• Selwyn Lloyd

• Winston Churchill

What report closed down many extra rail lines?

• The Wolfenden Report

• The Wootton Report

• The Robinn’s Committee

• The Beaching Report

What does NICKY stand for?

• National Economic Development Council

• National Incomes Committee

• Department of Economic Affairs

• National Board for Prices and Incomes