In the late 1940s, the U.S. was the foremost industrial power in the world and produced D. one half of global output.
How much did the U.S. produce in the late 1940s?
In the late 1940s, large areas of Europe and Asia were still in ruins from the second World War.
This allowed the U.S. - which was relatively untouched - to produced around half of all economic output in the world.
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