Question

The first world war helped boost the economy explain how

Answer 1

Answer:

The effect of WWI on the US economy was considerable. ... So the short term effect (I am defining short term effect as within one decade) was that the US economy grew a large amount due to their involvement in WWI. The long term effect was that US involvement in the war lead directly to the Great Depression and WWII.

Answer 2

Explanation for the first world war helped boost the economy:

• The general state of both Germany and Europe was wrecked by this war.

• They needed huge money for recovering their lost economy

• They ended up utilising all their resources in the making of weapons and such other.

• They had an extreme scarcity of food and household supplies.

• US although a part of the war, suffered lesser than both Germany and US.

• They helped Europe to make a recovery after the war. Europe borrowed extremely large sums from US to pay off its debts.

• In this way, US became an international creditor.

• In this case US came as the sole country who financed the European economies.

• By the time the war ended, the US and its citizens held ownership of greater foreign assets than any other foreign government.

• Their industrial and agricultural production also saw a rise.

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