Asked by Amanda Caldwell on Jun 27, 2024
Verified
During the Second World War, the personal income of most American workers___________________.
A) declined in real terms because of higher taxes
B) increased, but was eaten up by the high rate of inflation
C) was lower than that of workers in other industrialized nations
D) reached new highs
Personal Income
The total earnings received by an individual, including wages, salaries, and other sources, before taxes and other deductions.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
- Comprehend the worldwide economic repercussions of World War II, encompassing changes in employment, tax regulations, and the economy after the conflict.
Verified Answer
NL
Naomi LewisJul 02, 2024
Final Answer :
D
Explanation :
The Second World War was a period of economic growth in the United States. The country's involvement in the war spurred industrial production and increased demand for labor, leading to higher wages and low unemployment. This led to the personal income of most American workers reaching new highs during this period.
Learning Objectives
- Comprehend the worldwide economic repercussions of World War II, encompassing changes in employment, tax regulations, and the economy after the conflict.