The economy of the United States after 1952 was the economy of a well-fed, almost fully employed people. Despite occasional alarms, the country escaped any postwar liquidation and lived in a state of boom. The history of extraction, production, and distribution had therefore been almost nothing but a statistical table reflecting prosperity. An economic survey of the year 1955, a typical year of the 1950’s, may be typical as illustrating the decade. The national output was valued at about 10 percent above that of 1954 (1955 output was estimated at 392 billion dollars). The production of manufacturers was about 40 percent more than it had averaged in the years immediately following World War Ⅱ. The country’s business spent about 30 billion dollars for new factories and machinery. National income available for spending was almost a third greater than it had been in 1950. Consumers spent about 256 billion dollars, that is, about 700 million dollars a day, or about twenty-
A. The agricultural trends of the 1950’s.
B. The unemployment rate in 1955.
C. The general economic situation in the 1950’s.
D. The federal budget of 1952.
The economy of the United States after 1952 was the economy of a well-fed, almost fully employed people. Despite occasional alarms, the country escaped any postwar liquidation and lived in a state of boom. The history of extraction, production, and distribution had therefore been almost nothing but a statistical table reflecting prosperity. An economic survey of the year 1955, a typical year of the 1950’s, may be typical as illustrating the decade. The national output was valued at about 10 percent above that of 1954 (1955 output was estimated at 392 billion dollars). The production of manufacturers was about 40 percent more than it had averaged in the years immediately following World War Ⅱ. The country’s business spent about 30 billion dollars for new factories and machinery. National income available for spending was almost a third greater than it had been in 1950. Consumers spent about 256 billion dollars, that is, about 700 million dollars a day, or about twenty-
A. One million
B. Two million
C. Three million
D. Four million
The domestic economy in the United States expanded in a remarkably vigorous and steady fashion. The revival in consumer confidence was reflected in the higher proportion of incomes spent for goods and services and the marked increase in consumer willingness to take on installment debt. A parallel strengthening in business psychology was manifested in a stepped-up rate of plant and equipment spending and a gradual pickup in expenses for inventory. Confidence in the economy was also reflected in the strength of the stock market and in the stability of the bond market. For the year as a whole, consumer and business sentiment benefited from the ease in East-West tensions.
The bases of the business expansion were to be found mainly in the stimulative monetary and fiscal policies that had been pursued. Moreover, the restoration of sounder liquidity positions and tighter management control of production efficiency had also helped lay the groundwork for a strong expansion. In add
A. prevent payments deficit
B. avoid inflationary pressures
C. devalue the dollar
D. increase the balance of trade
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