Choose the below statement is true/false;
Germany was struck by hyperinflation, Russia intervened with Dawes Plan.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is False.
Germany had fought in World War I thanks to loans it was largely dependent on at the time. After the war, it was burdened with paying war reparations in gold. Eventually, the nation’s gold reserves got depleted. Consequently, Germans hesitated to pay in 1923. This decision brought the French to the leading industrial area in Germany at the time, Ruhr, to claim their coal. Germans struck back by printing currency notes with abandon, and the value of the German mark dropped. As the values crashed, the prices of goods reached an all-time high, an instance known as hyperinflation. Americans intervened with the Dawes Plan to ease the economic burden on Germans. However, the US withdrew support when the Wall Street Exchange collapsed in 1929.
The correct statement is Germans struck back by printing currency notes, and Americans intervened with the Dawes Plan.

Watch 3-min video & get full concept clarity