Lecture 24 - Key Terms and Questions

Question 1

Which famous British statesman said “I have nothing to offer but blood, toil, tears, and sweat”?

Answer 1

Winston Churchill

Question 2

Consider the following table, which is the same as the one discussed in class and presented in the text except for one country. For which country is the data wrong? (hint. Try to see whether the data is consistent with the qualitative information you have.)

Answer 2

Germany

Question 3

Here is Pablo Picasso’s famous painting, Guernica

Answer 3

• Bombed military production point.
• Production continued and labor force was not demoralized.

Question 4

The firebombing of Hamburg was considered a ____ by economist John Kenneth Galbraith because _____.

Answer 4

failure, German U-boat production recovered quickly

Question 5

Tactical bombing, in contrast with strategic bombing, was aimed at destroying the enemy’s ___.

Answer 5

armed forces

Question 6

Historian Richard Overy has argued that strategic bombing was crucial to the Allied victory in World War II. According to the class lecture, his central argument was that strategic bombing _____.

Answer 6

diverted the German air force from the Eastern front

Question 7

Keynesian economists thought that the Great Depression would return after WWII. Why? But that didn’t happen. Why?

Answer 7

• Government spending would stop
• Savings

Question 8

Who is this guy? What did he do?

Answer 8

Proposed giving money to countries defeated. Like lincoln to avoid the results of the Treaty of Versailles. $41 billion, $19 trillion in todays real gdp.