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Global Economic Challenges in the Interwar Period Quiz

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Which treaty formally ended World War I?

Treaty of Versailles

Explanation

It was signed in 1919 and imposed severe penalties on Germany.

Which international organization was established in 1944 to promote economic cooperation and development after World War II?

International Monetary Fund

Explanation

It aimed to stabilize exchange rates and assist with reconstruction.

Which event is often considered the beginning of the Great Depression?

The stock market crash of 1929

Explanation

It triggered a chain reaction of bank failures and economic downturn.

Which international organization was created to facilitate economic cooperation and prevent future global financial crises after World War II?

International Monetary Fund

Explanation

It provides financial assistance and promotes monetary stability globally.

Which economic theory dominated global policymaking during the interwar period?

Classical economics

Explanation

It advocated for laissez-faire policies and minimal government intervention.

Which of the following was a major factor contributing to the Great Depression?

Overproduction and underconsumption

Explanation

It led to a surplus of goods and weakened consumer demand.

What was the impact of the Smoot-Hawley Tariff Act of 1930?

It exacerbated the Great Depression

Explanation

It triggered retaliation from other countries, stifling international trade.

What was the primary goal of the Bretton Woods Conference in 1944?

To establish a fixed exchange rate system

Explanation

It aimed to prevent currency devaluations and promote economic stability.

What was the purpose of the Dawes Plan of 1924?

To restructure German reparations payments

Explanation

It aimed to stabilize the German economy and facilitate war debt payments.

#10

Who developed the theory of comparative advantage?

David Ricardo

Explanation

It argues that countries should specialize in goods they can produce most efficiently.

#11

Which country was hit particularly hard by hyperinflation during the interwar period?

Germany

Explanation

Hyperinflation rendered the German currency nearly worthless.

#12

Which country experienced a 'lost decade' during the 1990s due to economic stagnation?

Japan

Explanation

It faced prolonged recession and asset price deflation.

#13

What was the main reason behind the collapse of the Soviet Union's economy in the late 1980s and early 1990s?

Centralized planning failures

Explanation

State control led to inefficiencies, shortages, and economic decline.

#14

What was a significant consequence of the Wall Street Crash of 1929?

Widespread bank failures and unemployment

Explanation

It triggered a severe economic downturn and financial panic.

Global Economic Challenges in the Interwar Period Quiz

Which treaty formally ended World War I?

Which international organization was established in 1944 to promote economic cooperation and development after World War II?

Which event is often considered the beginning of the Great Depression?

Which international organization was created to facilitate economic cooperation and prevent future global financial crises after World War II?

Which economic theory dominated global policymaking during the interwar period?

Which of the following was a major factor contributing to the Great Depression?

What was the impact of the Smoot-Hawley Tariff Act of 1930?

What was the primary goal of the Bretton Woods Conference in 1944?

What was the purpose of the Dawes Plan of 1924?

Who developed the theory of comparative advantage?

Which country was hit particularly hard by hyperinflation during the interwar period?

Which country experienced a 'lost decade' during the 1990s due to economic stagnation?

What was the main reason behind the collapse of the Soviet Union's economy in the late 1980s and early 1990s?

What was a significant consequence of the Wall Street Crash of 1929?

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