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wartime production
the us governments increases spending on wartime production helped stimulate the economy and pull the country out of the great depression -
wage increases
the national war labor board agreed to a 15% pay increase for union members -
government spending
government spending on defense and infrastructure helped stimulate economic growth -
revenue act of 1942
the act imposed the highest income taxation rates in American history, with the highest earners paying 91% tax on some of their income -
Keynesian economics
the government used fiscal policies to regulate and stabilize the economy, stimulating growth and preventing inflation -
Breton woods agreement
established the world bank and international monetary fund to fund loans for rebuilding infrastructure and smooth world commerce -
labor union power
labor unions exercised significant power and influence, with over 3 million workers going on strike in 1943 -
baby boom
the post war period saw a significant increase in birth rates, driving demand for goods and services -
GI bill
provided veterans with education benefits, home loans, and unemployment compensation, increasing consumer spending -
employment act
promoted unemployment, production, and purchasing power, laying the economic responsibility of economic stability on the government -
post-war consumer demand
Americans were eager to buy new goods after years of wartime rationing, driving production and economic growth -
technological advancements
advancements in areas like aviation, electronics, and manufacturing contributed to economic growth -
marshall plan
provided $23 billion in aid to European countries, increasing industrialization and agriculture, maintaining markets for US goods -
industrialization growth
significant growth in various industries, driven by wartime innovations and post-war demand -
automobile industry boom
the automotive industry flourished as soilders returned home and families sought new cars