World War Two and the US economy
I can explain how the Second World War affected the American economy.
World War Two and the US economy
I can explain how the Second World War affected the American economy.
Lesson details
Key learning points
- The USA joined the Second World War in December 1941.
- In the 1930s, Neutrality Acts had kept the USA out of foreign conflicts
- Cash and Carry and Lend Lease involved the US in supplying countries like Britain with wartime supplies.
- Rearmament led to growth in industrial and agricultural production.
- Rearmament led to a significant fall in American unemployment.
Keywords
Neutrality - neutrality involves avoiding involvement in a conflict; this includes not doing anything to help those who are fighting
Lend Lease - Lend Lease was an American policy which involved supplying countries like Britain with wartime supplies free of charge
Arsenal - an arsenal is a building or place where weapons and military equipment are made or stored
Rearmament - rearmament is the process of supplying yourself or others with new weapons to rebuild military strength
GDP - GDP refers to the total value of goods and services produced by a country in a year
Common misconception
The economic impacts of wartime production were confined to weapons manufacturers.
Wartime demand extended to a wide range of goods including weapons, foodstuffs, fuel and raw materials. This led to many sectors of the US economy benefitting from wartime production.
Equipment
Content guidance
- Depiction or discussion of violence or suffering
Supervision
Adult supervision recommended
Licence
This content is © Oak National Academy Limited (2024), licensed on Open Government Licence version 3.0 except where otherwise stated. See Oak's terms & conditions (Collection 2).
Lesson video
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Starter quiz
6 Questions
Exit quiz
6 Questions
building or place where military equipment is made or stored
the process of supplying yourself or others with new weapons
the total value of goods and services produced by a country in a year
Neutrality Act bans loans to countries at war
Neutrality Act bans arms sales to countries at war
‘Cash and carry’ allows arms sales to Britain and France
Lend Lease aid for Britain begins