Postwar Economy

What was one result of the rush to buy consumer goods after the war?

• Prices fell dramatically

• Inflation resulted

• There was a surplus of goods

• Farmers became wealthy

Why did farmers struggle after the war?

• There was a need for more wartime production

• Prices for their goods increased

• There was no longer a need for wartime production

• They received government subsidies

After the war, the US had become the ________, most industrialized nation.

• richest

• poorest

• smallest

• oldest

Europe borrowed more money from the US to pay for American products.

• True

• False

What does it mean that the US became a 'creditor nation' after the war?

• The US owed more money to other countries

• Other countries owed the US more than the US owed them

• The US had no international debts

• The US stopped trading with Europe

Economic Growth: New, affordable goods became available because ______ increased, creating new consumers.

• wages

• taxes

• tariffs

• imports

Economic Growth: Advertisements sold the idea that one became 'the person they wanted to be' after ______.

• buying the right products

• watching television commercials

• reading newspapers

• listening to the radio

Economic Growth: Installment buying increased, meaning people could purchase goods on ______ in lieu of cash.

• credit

• loan

• deposit

• lease

During which year did the Real GNP per capita reach its peak?

• 1921

• 1923

• 1929

• 1930

Which product is advertised as 'The Original Candy-Coated Gum' in the vintage ad?

• Chiclets

• National Oats

• Coca-Cola

• Maybelline