Choose the statement as true or false.

World war 1 led to an economic boom.

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Detailed Solution

The above statement is true.
World War I caused an economic boom. This means a sharp increase in demand, production, and employment. Approximately one million women have entered the labour market to compensate for many men's losses. Manufacturing wages have risen dramatically, doubling from an average of $ 11 a week in 1914 to $ 22 a week in 1919. This increase in consumer purchasing power helped boost the nation's economy in the late war. During the war, demand for commodities increased, leading to an economic boom in Britain. After the end of the war, demand fell sharply to adapt to the peacetime economy. After the war, about 20% of British workers lost their jobs. Before the war, Eastern Europe was an essential supplier of wheat. However, during the war, Eastern Europe was involved in the war, making Canada, the United States, and Australia, the major wheat suppliers. After the end of the war, Eastern Europe resumed its wheat supply. This led to an excess of wheat in the market, and prices fell. This caused havoc in the rural economy.

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