Scenes of workers, shoppers; Office of Price Stabilization director talks about program to fight inflation

The video discusses America's vast geography and population, highlighting the economic impact of the Korean War. It explains how wartime shortages led to inflation, prompting the introduction of price ceilings in 1951. The video emphasizes the importance of consumer responsibility in stabilizing prices and managing inflation, especially as defense production increases.

What is the approximate population of America as mentioned in the video?

• 100 million

• 250 million

• 200 million

• 150 million

What event in Korea led to economic changes in America?

• The end of World War II

• The crossing of the 38th parallel by an army

• The start of the Cold War

• The signing of a peace treaty

What measure was introduced in January 1951 to control inflation?

• Tax cuts

• Price ceilings

• Import restrictions

• Increased wages

What is expected to increase in late summer or early fall according to the video?

• Export tariffs

• Consumer purchasing power

• Interest rates

• Unemployment rates

What is the key to the success of the price stabilization program?

• Consumer support

• Lower taxes

• Increased production

• Government intervention