12 Questions
What was the primary reason for the failure of banks in 1880?
Excessive lending to borrowers without adequate credit assessment
What was the consequence of the agricultural depression in 1880?
High debt levels among farmers due to overproduction and low crop prices
What was the primary driver of Britain's emergence as a dominant trading nation?
The Industrial Revolution's mechanization of production processes
What was the role of the British Empire in Britain's dominance of global trade?
It provided abundant natural resources and raw materials
What was the impact of the Industrial Revolution on Britain's economy?
It transformed the nation's economy by mechanizing production processes
What was the consequence of the shift in global trade dynamics leading up to 1914?
The emergence of Britain as a dominant trading nation
What was the primary purpose of the bimetallic standard in the 19th century?
To provide greater economic stability by using two valuable metals as currency
What was the consequence of the decline in the value of silver in the 19th century?
A decrease in the supply of money in the economy, leading to deflation
What was the result of over-speculation on rail-road construction in the late 19th century?
A increase in investors' debt and subsequent bankruptcies
What was the consequence of the collapse of banks in the late 19th century?
A increase in the number of borrowers who could not repay their loans
What was the primary cause of the panic of 1873?
The end of bimetalism and the subsequent contraction in the money supply
What was the consequence of the new mines discovered in the late 19th century?
A decrease in the number of miners who could not sell their silver
Test your knowledge of the Industrial Revolution of the 18th century, the rise of economic liberalism, and the evolution of free trade until 1929. This quiz covers the first crises, international trade, and the consequences of World War I.
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