Question

One of the major factors in economic growth in the 1950s was consumer spending by which group? (4 points)

Answer 1

Answer: Balance of the tax system and public spending and progress in the field of science and technology.

Explanation:

The period after the Second World War meant an extremely difficult economic situation in the world, except in the United States. That is primarily the result of the suffering caused by the Second World War. According to many historians, the United States has never had such a stable economy before in history. Enormous credit certainly belongs to President Eisenhower's administration, which led to a perfect balance in the tax system and public spending in the country.

The economy has benefited tremendously from the growth of consumption at all levels, and the whole story includes a large number. The country's economic rate increased by an incredible 37%, and the purchasing power of the average American family before the end of the 1950s was higher by 30%. It is very important to note that it was the period of the Cold War that led to advances in technology and science. In such circumstances, the quality of life in the country will inevitably improve.