Choose the given statement as true/false:

The economy of Britain failed to compete with the Economies of the US, Germany, and Japan post world war I.

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True

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answer is A.

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Detailed Solution

The given statement is true.
Britain struggled after the war to regain its former position of supremacy in the colonial market. Britain had borrowed money from the US to pay for the costs of the war. Britain had substantial external debts when the war was over. The demand, output, and employment had all significantly increased as a result of the war. To bring excessive war expenses into line with receipts during peacetime, the government decreased them. These changes caused substantial job losses. One in five British employees was unemployed in 1921. Therefore it can be concluded that Britain failed to compete with the Economies of the US, Germany, and Japan post world war I.

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