economics quiz Flashcards
The French Indemnity of 1871 was …
Money demanded by Germany at the end of the Franco-Prussian War
The German economy grew by … each year until 1873
5%
Between … (1800s) there was a world trade recession
1873 and 1896
Between 1890 and 1914, Germany’s industrial production …
Tripled
In 1875, there were 8 cartels in Germany. By 1911, there were…
600
By 1914, the German merchant marine was …
Half the size of Britain’s merchant fleet
By the early 1900s, Germany was producing … of the world’s chemical dyes.
three quarters
By 1913, Germany controlled half the world’s trade in …
Electricals
Which German companies were famous in the field of electricals?
Siemens, AEG
What percentage of the German population worked in agriculture by 1907?
35%
In 1899, Loewe rebuilt his Berlin factory using …
American mass production techniques
In 1870, there were more science graduates from Munich University than from …
All the English universities combined
Between 1890 and 1914, Germany experienced a period of relatively … economic performance with …
good, low inflation and low unemployment
Productivity during the WW1…
fell by 4% a year
By 1919, the Reichsmark was worth…
20% less than its pre-war value
As part of the Treaty of Versailles, Germany lost which coal producing region to France for 15 years?
The Saar
By 1921, unemployment in Britain was 17%. In Germany, it was …
2%
When did Germany fall behind with reparation payments, leading to French occupation of the Ruhr?
Jan 1923
What action did Chancellor … take in response to the French occupation?
Cuno, organised a passive resistance campaign
Who did Stresemann appoint as the new Reich Currency Commissioner and head of the Reichsbank in August 1923?
Hjalmar Schacht
What name was given to the new currency introduced in November 1923?
Rentenmark
The new currency exchange rate between Papiermark and Rentenmark was set at…
one new mark to one trillion old marks
German currency
Gold mark (1871-1914) -> Papiermark (1914-1923) -> Rentenmark (1923-1924 -> Reichsmark (1924-1948) -> Deutschmark (1948-2002)
The Dawes Plan was replaced in 1929 by the …
The Young plan
As a result of the changes made by the Dawes Plan, by 1926 …
Inflation fell to zero but unemployment was 20%
Under a new reparations plan (Young?) agreed in 1929, …
Reparations were reduced by 75%
Output reached pre-war levels in …
1927
To deal with the economic crisis in 1930, Chancellor Bruning …
Introduced a policy of austerity (the hunger chancellor)
Unemployment peaked in 1932 at …
6 million
Chancellor Bruning achieved one notable success in 1932 when he …
Negotiated an end to reparations
Hitler’s regime reduced unemployment in the early 1930s by … (4 points)
- Increased spending on public works programmes
- Pushed women out of employment
- Introduced conscription
- Introduced a Reich Labour Service (RAD)
Hitler wanted to create a Wehrwirtschaft, meaning …
Defence economy
Despite Schacht’s economic improvements, economic problems remained, for example …
The balance of payments was in deficit
Food prices rose, eroding real wages
In August 1936, a Four-Year Plan was established … (3 goals)
- To ensure autarky (self sufficient)
- To develop ersatz materials (substitute goods)
- That set targets for output
By 1939, despite the Four Year Plan, …
Germany still imported a third of all raw materials
The Office of the Four Year Plan was headed by …
Goering
The first Minister of Armaments & Munitions appointed in March 1940 was …
Todt
Forced labourers were estimated to be …
Up to 80% les productive than German workers
Life expectancy for an Auschwitz labourer was estimated at …
Three months
Speer improved the war economy by …(4)
- Establishing a Central Planning Board
- Increasing the standardisation of equipment
- Introducing female conscription
- Reducing the manufacture of unnecessary goods
What was achieved by Speer within six months of his appointment? (2 points)
- Armaments production rose by 50%
- Ammunition production by 97%
Which of the following helped the Western zones rebuild their economy after 1945?
- The introduction of a new currency in 1948
- The Marshall Plan
- Creation of Bizonia and then Trizonia
In the 1950s what did the FRGs’ GNP growth rate peak at?
Over 8% per annum
Which of the following factors helped the FRG to achieve an ‘economic miracle’? (5)
- It included the traditionally industrial Ruhr region
- Marshall Aid
- The Korean War
- Refugees from the East
- Modernisation of factories destroyed by bombings
What laws for economic development were passed in the 1950s? (3)
1951: Investment Aid Law
1951: Codetermination Law
1952: The ECSC
When were the post war recessions?
1965 (minor) 1974 (serious)
During the 1970s, SPD led governments looked to broaden economic opportunities by…
- Increasing spending on job creation schemes
- Increasing the social housing budget by a third
- introducing a new Factory law to benefit workers
The currency union of 1990 established an exchange rate of …
One Deutschmark for one Ostmark
When, why and how much was the Soli tax?
March 1991, a new 7.5% tax was introduced to help pay the costs of reunification.
Which of the following economic consequences were felt in the former DDR by 1991? (6)
- Real income rose by 28%
- 175,000 new businesses were founded
- Women who had relied on state childcare lost employment
- GNP declined by over 13% in 1990
and by 20% in 1991 - There was a mass exodus of younger people to the West
- An ‘Eastern Recovery Programme’ was established
