Summary 2 - Causes of hyperinflation Flashcards

1
Q

What was the total amount of reparations needed to be paid by Germany?

A

£6.6 billion

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2
Q

What did the government order workers to do in the Ruhr?

A

Passive resistance

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3
Q

Why was passive resistance a poor idea from the government?

A

The workers still had to be paid even though they were producing no goods

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4
Q

What happened to government income due to passive resistance in the ruhr?

A

Government revenue fell

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4
Q

What happened to government income due to passive resistance in the ruhr?

A

Government revenue fell

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5
Q

Due to government expenditure rising and income falling what happened to the budget?

A

There was a budget deficit

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6
Q

As Germany were paying expensive prices for imports what happened to inflation due to good shortages?

A

It grew

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7
Q

How did Germany go about replacing the coal they lost due to the ruhr?

A

They had to spend extra money on importing it from foreign countries

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8
Q

On what date did money in Germany become virtually worthless?

A

November 1923

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9
Q

After money what was the most effective way of buying goods once the currency fell?

A

Bartering

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10
Q

In January 1914 what was the value of the mark to the pound?

A

20 marks

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11
Q

In November 1923 what was the value of the mark to the pound?

A

1,680,800,000,000,000

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12
Q

What was unemployment like in 1929?

A

Low

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13
Q

Who did Inflation benefit?

A

industrialists and the government was the real value of the debt was less when they were repaying loans

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