Which of the following statements is true about the economic crisis in Germany in 1923?

The value of Mark (German currency) collapsed

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Prices of goods soared high

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Weimer Republic brought economic prosperity

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both (A) and (B)

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Both (A) and (B)
Germany had fought the war largely on loans and had to pay war reparations in gold. In April the US dollar was equal to 24,000 marks, in July 353,000 marks, in August 4,621,000 marks and at 98,860,000 marks by December, the figure had run into trillions. As the value of the mark collapsed, prices of goods soared.

Suggest Corrections

Similar questions

Q. TEST YOUR SKILLS
How did the economic crisis in Germany affect people in general?

Q. Statement I: During the years of the Great Depression the economic crisis was worse in Germany.
Statement II: The President of the Weimar Republic had the power to impose emergency.

Venezuelan President Nicolas Maduro has announced the creation of a new virtual currency in a bid to ease the country's economic crisis. What is its name?

Q. Which of the following statements is true about economic laws?

Q. Statement A- French foreign minister, Robert Schuman suggested that industries producing coal and steel in Italy and Germany should come together.

Statement B- The Mastricht treaty signed by several other nations led to the formation of European Economic Community.

Statement C- The European Economic Community evolved to become the European Union. The European Union is a common market with different currencies of its respective members.

Which among the following statements are false?

Join BYJU'S Learning Program