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Questions and Answers
What was the main consequence of the Treaty of Versailles requiring Germany to pay reparations for war damages?
What was the main consequence of the Treaty of Versailles requiring Germany to pay reparations for war damages?
- Decrease in unemployment rates in Germany
- Increased foreign investments in Germany
- Hyperinflation due to excessive printing of paper money (correct)
- Stable economic growth in Europe
Which agreement renounced war as a tool of foreign policy during this period?
Which agreement renounced war as a tool of foreign policy during this period?
- The Keynesian system
- The Dawes Plan
- The Cooperative Enterprises agreement
- The Kellogg-Briand Pact (correct)
What economic theory, advocated by John Maynard Keynes, suggested that government spending could lift an economy out of a depression?
What economic theory, advocated by John Maynard Keynes, suggested that government spending could lift an economy out of a depression?
- Cooperative Economics
- Monetarist Economics
- Keynesian Economics (correct)
- Supply-side Economics
Which factor contributed to the shift from European economic recovery to the Great Depression?
Which factor contributed to the shift from European economic recovery to the Great Depression?
What was the purpose of the Dawes Plan introduced in 1924 regarding Germany?
What was the purpose of the Dawes Plan introduced in 1924 regarding Germany?
Which economic approach suggested a middle ground between communism and capitalism during the Great Depression?
Which economic approach suggested a middle ground between communism and capitalism during the Great Depression?
What effect did the Kellogg-Briand Pact have on foreign policy during this period?
What effect did the Kellogg-Briand Pact have on foreign policy during this period?
What was a consequence of the Treaty of Versailles on Germany's economy?
What was a consequence of the Treaty of Versailles on Germany's economy?
What was the Kellogg-Briand Pact's purpose during this period?
What was the Kellogg-Briand Pact's purpose during this period?
Which factor contributed significantly to the onset of the Great Depression in Europe?
Which factor contributed significantly to the onset of the Great Depression in Europe?
What was one key aspect of the Keynesian system of Economics proposed by John Maynard Keynes?
What was one key aspect of the Keynesian system of Economics proposed by John Maynard Keynes?
What was one response by Scandinavian states to the Great Depression?
What was one response by Scandinavian states to the Great Depression?
What was the primary purpose of the Dawes Plan introduced in 1924 regarding Germany?
What was the primary purpose of the Dawes Plan introduced in 1924 regarding Germany?
What was a main characteristic of the Kellogg-Briand Pact signed during this period?
What was a main characteristic of the Kellogg-Briand Pact signed during this period?
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Study Notes
- After World War One, Europe experienced a period of economic recovery, but soon faced profound suffering due to a worldwide economic crisis.
- The Treaty of Versailles required Germany to pay reparations for war damages, leading to severe hyperinflation when Germany resorted to printing paper money excessively.
- In 1924, the Dawes Plan was introduced to help Germany pay affordable reparations and receive US investments, leading to some economic stability in Europe.
- The Kellogg-Briand Pact was signed during this period, renouncing war as a tool of foreign policy and reflecting a sense of optimism in Europe.
- European economic recovery gave way to the Great Depression due to war debts, nationalistic tariff policies, overproduction, and speculation in the stock market.
- The Keynesian system of Economics, advocated by John Maynard Keynes, suggested government spending could lift an economy out of a depression by increasing consumer demand.
- Scandinavian states implemented Cooperative Enterprises and expanded welfare states in response to the Great Depression, showing a middle ground between communism and capitalism.
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