Flashcards in 1929-1939 (The Hungry 30s)- Economic (Economic Issues) Deck (13)
why did the 30% devaluation of the £ in 1931 turn out to be good?
cheaper to export goods
what were interest rates reduced by?
6% to 2%- lead to cheap money
why was the construction industry revived?
what was the 1932 Neville Chamberlain Import Duties bill, and what did it aim to achieve?
10% tax on all goods entering GB
empire becomes self supporting
why did the Libs resign from Nat Gov?
preferred free trade to Tories protectionism
what did the gov do that caused 70% unemployment in Jarrow?
closed unprofitable shipyards, mines etc
in 1939 how many people were employed in the car industry?
what was the coal production in in 1938?
227m tonnes (1928 levels)
by what did the price of wheat fall?
when did the gold standard end?
give a positive of new industries in the 1930s?
electricity/car production quadrupled
give 5 reasons as to the economic recovery of industry?
-lower prices meant those with wages stretched further
-high unemployment but still more people in work than out of it
-cheap money=borrowing for things like houses
-social trends like smaller families meant families had more to spend
-industries supplying home market grew increasing jobs in service industries