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FRG > Economics > Flashcards

Economics Flashcards

1
Q

Aggregate value of surviving buildings 1945v1936

A

1945 - RM62 billion
1936 - RM51 billion

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2
Q

Industrial production increase in Bizonia

A

51% of 1936 levels in Jan 1948 to 75% by Dec 1948

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3
Q

When was Deutschmark introduced

A

20th June 1948

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4
Q

Wage conversion RM v DM

A

RM1 to DM1

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5
Q

Savings conversion RM v DM

A

RM100 to DM6.5

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6
Q

Debts of how much were wiped out

A

RM400 billion

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7
Q

Tax rate for average incomes

A

1950, rate for average incomes of DM2,400 fell to 18%
1948, was as high as 85% (RM)

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8
Q

Tax rate for incomes over DM250,000

A

95%

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9
Q

Absenteeism decrease

A

9.5 hours per week to less than 2 hours average

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10
Q

Growth rate in industrial production 1950

A

25%

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11
Q

Unemployment 1950s

A

Fell from 10.3% in 1950 to 1.2% by end of decade

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12
Q

Salary increase 1949-55

A

80%

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13
Q

Industrial production increase

A

By 1958, had quadrupled since first half of 1948

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14
Q

Investment Aid Law

A

Provided gov subsidy of DM3.2 billion

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15
Q

Anti-Trust Law 1957

A

Designed to prevent & dismantle cartels

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16
Q

Deutsche Bundesbank 1957

A

Had power to raise interest rates/control circulation of money within economy
Controlled inflation

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17
Q

Marshall Plan

A

Aided $1.5 billion 1948-52

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18
Q

Average economic growth 1955-66

A

8%

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19
Q

FRG share of world trade increase 1965-75

A

6.6% to 7.9%

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20
Q

Unemployment in 1955

A

1 million
4.2% of workforce

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21
Q

How much of industry did federal gov control by mid 1950s

A

40% of coal and iron
75% of aluminium
66% of electricity generating plants

22
Q

Erhard response to 1965-69 recession

A

Cut spending plans by 10%
German workers would have to work an extra hour/week
Increased interest rates

23
Q

When did Erhard resign

A

Nov 1966

24
Q

Karl Schiller

A

Appointed new economics minister
Dec 1967 - Introduced 5 year financial plans and co-ordinated budgets of different gov levels

25
Q

Law for Promoting Stability & Growth in the Economy

A

June 1967
Formalised process of co-operation
Increased federal gov activity in economy

26
Q

Article 109 of Basic Law emended

A

Allowed increased gov control of tax & spending policies of different states

27
Q

VAT rise

A

10% to 12%

28
Q

Kiesinger’s economic successes

A

Unemployment falling by 1968
Industrial growth 6% per annum
1969, inflation = 1.5%

29
Q

Brandt’s increased spending on social welfare as % of GDP

A

25% to 33%

30
Q

Brandt’s social reforms to education

A

300% increase in expenditure on education
School leaving age raised to 16
Educational support Law

31
Q

Brandt’s social reforms to pensions

A

Raised by 5% for people wounded in war
Rasied by 16% for widows of German soldiers
State pensions able to be accessed after 63

32
Q

Brandt’s social reforms to healthcare

A

Medical exams for all children under 5
Early cancer detection in women under 35 and men under 45

33
Q

Brandt’s social reforms to housing

A

Social housing budget increased by 36%

34
Q

Consequences of Oil crisis 1973

A

Had to pay DM17 billion more for imports
Balance of payments went from surplus to $692 million within a year
GNP fell from 5.3% to 0.4% by 1974
Unemployment rose from 1.2% to 4.7% 1973-75

35
Q

Gov support for private sector investment

A

DM7-8 billion in grants
Public works contracts around DM1.1 bill to create jobs

36
Q

Growth rates average over course of 1980s

A

3.6%

37
Q

Unemployment by 1989

A

7.6%

38
Q

Inflation by 1986

A

Less than 1%

39
Q

Rise in exports 1985-89

A

DM73.4 bill to DM134 bill

40
Q

ECSC provided how many apartments

A

112,500

41
Q

ECSC trade in coal

A

Increased 10x

42
Q

FRG supplied goods to European partners

A

25% of chemical goods
23% of motor vehicles
14% of iron and steel

43
Q

Invested how much in other EEC states

A

DM56.7 billion in late 80s

44
Q

Increase in car ownership

A

2 million to 12.1 million 1950-65

45
Q

Average disposable income 1964

A

DM904
2/3 spent on essentials
DM823 spent on private consumption

46
Q

Cost of living compared to uk

A

FRG - 107
UK - 133.3
1985=100

47
Q

Price rise FRG v UK

A

6% in FRG
24% in UK

48
Q

Number of employees in public sector

A

Rose 250%

49
Q

Older properties

A

90% lacked inside toilet or central heating in 1960
18% in 1983

50
Q

Home ownership

A

37.8% 1987

FRG (4 decks)

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