Question

General U.S. Economic Conditions in the 1950s:

1) Building the Interstate Highway System provided jobs for 150,000 construction workers

2) The minimum wage increased by 33% in 1955.

3) Average family income rose 15%

4) Unemployment averaged 4.5%.

5) Real wages went up 20%.

(7.6) Based on the information above, what conclusion can be drawn about the 1950s?

A) The 1950s was a time of prosperity.

B) The value of U.S. exports was greater than U.S. imports.

C) The United States was at peace during this period.

D) The New Deal programs were established in the 1950s.

Answer 1

A) The 1950s was a time of prosperity.

Step-by-step explanation:

The 1950s was a significant moment in American economic history as this was the moment in US history that there was a major shift in the economy and welfare of labor workers.

Early 1950 saw a rise in inflation, dollar devaluation and looming recession but towards mid 1950, there was a change in the economy. This period birthed the American middle class.

There were some policies put in place that helped boost the economy. The GI bill was passed which enabled veterans to enroll in college and get degrees which in turn helped to get better paying jobs. Their education was government funded. This enabled many people to start to get married and build families.

During the next 10 years, a lot of small businesses began to grow and expand and bigger corporations merged and maximised profit. Because of this, there was a need for more workers and the void was filled by eager veterans who through the GI bill were college educated and had degrees.

There was an increase in labor membership by workers and the labor union negotiated better pay for its members, improved working conditions and health and retirement packages.