Chapter 5
36 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What were the economic consequences of World War I?

  • Limited intervention of the government in the economic life and political predominance of Europe in the World
  • American financial intervention and European economic recovery
  • Proper functioning of the international payments system and free movement of factors
  • Unbalanced economic growth and poor functioning of the international payments system (correct)

    • What characterized the post-World War I era in terms of economic decision making processes?

  • American financial intervention and European economic recovery
  • Limited government intervention in the economic life and proper functioning of the international payments system
  • Distortions in production and trade and protectionism (correct)
  • Workers and soldiers’ claims and poor functioning of the international payments system

    • What were the sanctions imposed on Germany by the Allies through the Treaty of Versailles?

  • Payments in kind, territorial cessions, and demilitarization (correct)
  • Proper functioning of the international payments system and limited government intervention in the economic life
  • Distortions in production and trade, workers and soldiers’ claims
  • American financial intervention and European economic recovery

    • According to J.M. Keynes, what did he propose in 'The economic consequences of peace' in 1919?

    <p>Proposed reparations are economically irrational and politically imprudent</p> Signup and view all the answers

    What was the main objective of the agrarian policy during the New Deal?

    <p>Reduction in cultivated land</p> Signup and view all the answers

    What was the primary goal of the Industrial policy during the New Deal?

    <p>Beat deflation</p> Signup and view all the answers

    What was the focus of Germany's Nazi regime in terms of economic policy during the Great Depression?

    <p>Full employment and autarky</p> Signup and view all the answers

    What was the main objective of the Four-year plans implemented by the Nazi regime in Germany?

    <p>Centralized organization of the economic system</p> Signup and view all the answers

    During which stage of World War II did the Allied counteroffensive take place?

    <p>1942-1945</p> Signup and view all the answers

    What was the primary aim of the European Recovery Program (Marshall Plan) offered by the USA?

    <p>Finance the recovery of European countries and avoid shortages of international currencies</p> Signup and view all the answers

    Which institution administered the European Recovery Program (Marshall Plan)?

    <p>Economic Cooperation Administration</p> Signup and view all the answers

    What were the two phases of aid provided under the European Recovery Program (Marshall Plan)?

    <p>Food and basic products for the primary sector; fuel, raw materials, capital goods for the industry</p> Signup and view all the answers

    Which factor contributed to the origins of the Great Depression?

    <p>Imbalanced economic growth and overproduction</p> Signup and view all the answers

    What was a major crisis experienced by rich capitalist economies from 1929 to 1933?

    <p>The Great Depression</p> Signup and view all the answers

    What were the economic policies implemented during the Great Depression?

    <p>Hoover administration's orthodox policies, New Deal's monetary and fiscal policies, and abandonment of the gold standard by some countries</p> Signup and view all the answers

    What caused problems in agriculture during the Great Depression?

    <p>High productivity and falling prices leading to debt and loss of purchasing power</p> Signup and view all the answers

    What resulted from the crash of the stock market during the Great Depression?

    <p>A banking crisis and a sharp decrease in the money supply</p> Signup and view all the answers

    What were the effects of the Great Depression?

    <p>Reduction in production and unemployment, international trade, and capital markets</p> Signup and view all the answers

    What was the priority given during the Industrial Revolution?

    <p>Heavy industry with under-financing of agriculture and consumption industries</p> Signup and view all the answers

    What led to problems in income distribution during the Great Depression?

    <p>Increasing inequality and diversion of profits to the financial sector</p> Signup and view all the answers

    What characterized economic growth during the 1920s, contributing to the origins of the Great Depression?

    <p>'Growing inequality' and 'tendency to overproduction'</p> Signup and view all the answers

    What type of speculation was associated with a bubble in the stock market during the Great Depression?

    <p>Profits and stock market speculation</p> Signup and view all the answers

    What was a characteristic effect of the Great Depression on international trade?

    <p>Reduction in international trade volume and disruption in global trade networks</p> Signup and view all the answers

    What led to a sharp decrease in the money supply during the Great Depression?

    <p>The crash of the stock market</p> Signup and view all the answers

    What was the outcome of France and Belgium's occupation of the Ruhr area in 1923?

    <p>The occupation led to a German worker strike</p> Signup and view all the answers

    How did the Dawes Plan affect Germany's reparations payments?

    <p>It reduced the amount of reparations Germany had to pay</p> Signup and view all the answers

    What economic challenge did Germany face in the late 1920s?

    <p>Hyperinflation and unprecedented price increases</p> Signup and view all the answers

    What was the purpose of mark stabilization and the creation of the rentenmark?

    <p>To rebalance the budget and stabilize the currency</p> Signup and view all the answers

    Why was the Gold Standard system abandoned during the post-war period?

    <p>Because it was no longer feasible to maintain currency convertibility</p> Signup and view all the answers

    What was the primary objective of Germany's New Economic Policy (NEP) following the Bolshevik revolution?

    <p>To combine elements of private and public property</p> Signup and view all the answers

    What characterized the Soviet Union's economic policy under Joseph Stalin?

    <p>Forced accumulation of capital by the state</p> Signup and view all the answers

    What was the impact of war financing on Germany's economy during the 1920s?

    <p>High inflation and an increase in the fiscal deficit</p> Signup and view all the answers

    How did the Treaty of Versailles link reparations to Germany's payment capacity?

    <p>By reducing reparation amounts based on Germany's payment capacity</p> Signup and view all the answers

    What was the result of the German worker strike following the occupation of the Ruhr area?

    <p>The occupation became a symbol of national resistance</p> Signup and view all the answers

    What was the impact of imbalanced economic growth on Germany during the 1920s?

    <p>War financing leading to high inflation and fiscal deficit increase</p> Signup and view all the answers

    What characterized the post-war period in terms of Germany's ability to maintain currency convertibility?

    <p>Germany struggled to maintain currency convertibility at previous parity levels</p> Signup and view all the answers

    Study Notes

    • Germany faced significant issues in meeting reparations payments as outlined in the Treaty of Versailles, leading to social unrest and the danger of a Bolshevik revolution.
    • Reparations were linked to Germany's payment capacity, and German governments did not prioritize stabilization and growth policies.
    • In 1923, France and Belgium occupied the Ruhr area to take possession of coal as payment, leading to a German worker strike.
    • The Dawes Plan was implemented in 1924, reducing the amount of reparations Germany had to pay and providing an international loan to foster trust in the German economy.
    • In the late 1920s, the German economy experienced hyperinflation, with prices increasing to an unprecedented degree, making it difficult for economic agents to make decisions.
    • Mark stabilization was necessary to rebalance the budget, leading to the creation of the rentenmark and the return of Germany to the Gold Standard.
    • The German economy was plagued by imbalanced economic growth during the 1920s, with war financing leading to high inflation and an increase in the fiscal deficit.
    • The Gold Standard system was abandoned during the post-war period due to the unbalanced economic growth and the inability to maintain currency convertibility to the previous parity.
    • The Soviet Union, following the Bolshevik revolution in 1917, implemented a New Economic Policy (NEP) that combined elements of private and public property, but was later abandoned in favor of central planning and the forced accumulation of capital by the state under Joseph Stalin.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Lesson 5: The Crisis of Traditional Liberal Capitalism PDF

    Description

    Test your knowledge of industrial revolution policies and the Great Depression with this quiz. Explore topics such as 5-year plans, central planning, extensive growth models, and the causes of the Great Depression.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser