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Home F ront Econ WWII

Home F ront Econ WWII. C-Notes. Use the red headings to create a question in the margin Read the section and jot down key points Go back and put key terms in the margin. How did we stage a production miracle?. War Production board.

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Home F ront Econ WWII

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  1. Home Front Econ WWII

  2. C-Notes • Use the red headings to create a question in the margin • Read the section and jot down key points • Go back and put key terms in the margin

  3. How did we stage a production miracle? War Production board • In 1941 only 15% of production was going to military needs • WPB limited production of goods not essential to the war effort • Gov. guaranteed a profit to entice businesses

  4. Wartime Economy How did we control prices and wages? Inflation Consumer Price Index • GNP grew from $90.5 billion to 211.9 billion • Jobs increased, crop prices increased, and so did demand. Prices rose because of a decrease in consumer goods. • Government regulated raises and prices through price ceilings. • The CPI, a statistic showing the price change of selected goods and services, rose at the same percentage as wages through 39-45

  5. How did rationing work? Rationingkept prices down by distributing limited goods fairly. • Ration coupons were needed for goods. • Americans could now afford goods, but they could not find them due to production. • Pg. 529…how people get around it?

  6. How did the government pay for the war? Bonds • WWII cost 10 times more than WWI. • Taxes only met about 40% of the cost • The government borrowed 60% from Americans through certificates that promised interest plus the original amount. • Children collected stamps, adults used them as investments.

  7. No Strike Pledge What did the government do for unions? • Major labor unions agreed that they would not strike during war. • The government help in negotiations and could seize plants if they had to. • Most lived up to the pledge, but FDR did have to seize some coal mines.

  8. Recruiting New Workers Who took the jobs? How did the war change the American family? • Over 15 million Americans left for the war. • Wartime labor demands wiped out unemployment. • 6 million women joined the labor force. • Defense industry increased women by 460 percent. • ¾ of the women working were married.

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