Chapter 1.3: Financial Problems

Question 1

How much debt was Britain in at the end of WWII?

Answer 1

around £4200 million (£4198)

Question 2

Britain had a balance of payment deficit of ?

Answer 2

£750 million

Question 3

Exports and manufactures had dropped by __% in wartime

Answer 3

Exports and manufactures had dropped by 60% in wartime

Question 4

__________ exports had shrunk from £2__ million in 19__ to £1__ in 19__

Answer 4

Invisible exports had shrunk from £248 million in 1938 to £120 million in 1946

Question 5

By 19__ Britain was spending __% of its GNP on defense

Answer 5

By 1951 Britain was spending 14% of its GNP on defense

Question 6

How much at Attlee’s government borrowed from the USA and Canada?

Answer 6

$6000 million

Question 7

In 19__, the exchange rate of sterling was reduced from $.__ to $.__, a fall of __%

Answer 7

In 1949, the exchange rate of sterling was reduced from $4.08 to $2.80, a fall of 30%

Question 8

What year did the Marshall Plan begin to operate?

Answer 8

1948

Question 9

Europe received $__ billion from the Marshall Plan - __% was Britain’s share

Answer 9

Europe received $15 billion dollars from the Marshall Plan - 10% was Britain’s share