Global Economic Crisis - AP European History
Card 1 of 30
Which country experienced hyperinflation during the early 1920s?
Which country experienced hyperinflation during the early 1920s?
Tap to reveal answer
Germany. Weimar Republic printed money to pay war reparations.
Germany. Weimar Republic printed money to pay war reparations.
← Didn't Know|Knew It →
What event in 1929 marked the beginning of the Global Economic Crisis?
What event in 1929 marked the beginning of the Global Economic Crisis?
Tap to reveal answer
The Wall Street Crash. Stock market collapse triggered worldwide economic downturn.
The Wall Street Crash. Stock market collapse triggered worldwide economic downturn.
← Didn't Know|Knew It →
What was the primary economic policy tool used by governments to combat the crisis?
What was the primary economic policy tool used by governments to combat the crisis?
Tap to reveal answer
Fiscal stimulus. Government spending increases to boost economic activity.
Fiscal stimulus. Government spending increases to boost economic activity.
← Didn't Know|Knew It →
Which policy involves government borrowing to fund infrastructure and public works?
Which policy involves government borrowing to fund infrastructure and public works?
Tap to reveal answer
Deficit spending. Government borrows to fund economic stimulus projects.
Deficit spending. Government borrows to fund economic stimulus projects.
← Didn't Know|Knew It →
Which policy tool involves government spending and tax adjustments to influence the economy?
Which policy tool involves government spending and tax adjustments to influence the economy?
Tap to reveal answer
Fiscal policy. Uses taxation and spending to manage economic cycles.
Fiscal policy. Uses taxation and spending to manage economic cycles.
← Didn't Know|Knew It →
Identify the economic condition characterized by rising prices and increased unemployment.
Identify the economic condition characterized by rising prices and increased unemployment.
Tap to reveal answer
Stagflation. Economic stagnation combined with rising inflation.
Stagflation. Economic stagnation combined with rising inflation.
← Didn't Know|Knew It →
What economic phenomenon involves a general decline in prices, often leading to reduced consumer spending?
What economic phenomenon involves a general decline in prices, often leading to reduced consumer spending?
Tap to reveal answer
Deflation. Falling prices reduce business profits and employment.
Deflation. Falling prices reduce business profits and employment.
← Didn't Know|Knew It →
Which international financial institution was created to provide loans to developing countries?
Which international financial institution was created to provide loans to developing countries?
Tap to reveal answer
The World Bank. Provides reconstruction and development financing globally.
The World Bank. Provides reconstruction and development financing globally.
← Didn't Know|Knew It →
Identify the economic theory that suggests government intervention can stabilize economies.
Identify the economic theory that suggests government intervention can stabilize economies.
Tap to reveal answer
Keynesian economics. Government spending can stimulate demand during recessions.
Keynesian economics. Government spending can stimulate demand during recessions.
← Didn't Know|Knew It →
What term describes the severe economic downturn of the 1930s?
What term describes the severe economic downturn of the 1930s?
Tap to reveal answer
The Great Depression. Decade-long economic collapse following 1929 crash.
The Great Depression. Decade-long economic collapse following 1929 crash.
← Didn't Know|Knew It →
Which international organization was founded in 1944 to help stabilize global economies?
Which international organization was founded in 1944 to help stabilize global economies?
Tap to reveal answer
International Monetary Fund (IMF). Created to provide financial stability and exchange rate coordination.
International Monetary Fund (IMF). Created to provide financial stability and exchange rate coordination.
← Didn't Know|Knew It →
Which economic strategy focuses on reducing government intervention in the market?
Which economic strategy focuses on reducing government intervention in the market?
Tap to reveal answer
Laissez-faire. Free market approach with minimal government interference.
Laissez-faire. Free market approach with minimal government interference.
← Didn't Know|Knew It →
Name the 1930 tariff act that worsened the Great Depression by reducing international trade.
Name the 1930 tariff act that worsened the Great Depression by reducing international trade.
Tap to reveal answer
The Smoot-Hawley Tariff Act. Protectionist tariffs reduced global trade volumes.
The Smoot-Hawley Tariff Act. Protectionist tariffs reduced global trade volumes.
← Didn't Know|Knew It →
What is the process by which a country experiences a rapid decrease in the value of its currency?
What is the process by which a country experiences a rapid decrease in the value of its currency?
Tap to reveal answer
Currency devaluation. Currency loses purchasing power relative to other currencies.
Currency devaluation. Currency loses purchasing power relative to other currencies.
← Didn't Know|Knew It →
Identify the plan that aimed to rebuild European economies after World War II.
Identify the plan that aimed to rebuild European economies after World War II.
Tap to reveal answer
The Marshall Plan. US aid program for European economic recovery.
The Marshall Plan. US aid program for European economic recovery.
← Didn't Know|Knew It →
What is the term for a prolonged period of high unemployment and low economic activity?
What is the term for a prolonged period of high unemployment and low economic activity?
Tap to reveal answer
Economic depression. Severe economic contraction lasting multiple years.
Economic depression. Severe economic contraction lasting multiple years.
← Didn't Know|Knew It →
Which agreement ended the Bretton Woods system of fixed exchange rates?
Which agreement ended the Bretton Woods system of fixed exchange rates?
Tap to reveal answer
The Smithsonian Agreement. Devalued dollar and introduced floating exchange rates.
The Smithsonian Agreement. Devalued dollar and introduced floating exchange rates.
← Didn't Know|Knew It →
What is the term for a country's total economic output adjusted for inflation?
What is the term for a country's total economic output adjusted for inflation?
Tap to reveal answer
Real GDP. Measures actual economic growth removing price effects.
Real GDP. Measures actual economic growth removing price effects.
← Didn't Know|Knew It →
Which global crisis in 2008 was triggered by the collapse of housing markets?
Which global crisis in 2008 was triggered by the collapse of housing markets?
Tap to reveal answer
The Global Financial Crisis. Subprime mortgage crisis spread globally.
The Global Financial Crisis. Subprime mortgage crisis spread globally.
← Didn't Know|Knew It →
Identify the 1920s practice of buying stocks with borrowed money.
Identify the 1920s practice of buying stocks with borrowed money.
Tap to reveal answer
Buying on margin. Leveraged speculation increased market volatility risk.
Buying on margin. Leveraged speculation increased market volatility risk.
← Didn't Know|Knew It →
What is the economic term for a rapid increase in the general price level?
What is the economic term for a rapid increase in the general price level?
Tap to reveal answer
Inflation. Rising prices reduce purchasing power of money.
Inflation. Rising prices reduce purchasing power of money.
← Didn't Know|Knew It →
Which international body was established to promote international trade post-World War II?
Which international body was established to promote international trade post-World War II?
Tap to reveal answer
The General Agreement on Tariffs and Trade (GATT). Multilateral framework for reducing trade barriers.
The General Agreement on Tariffs and Trade (GATT). Multilateral framework for reducing trade barriers.
← Didn't Know|Knew It →
Which economic crisis led to the widespread adoption of welfare systems in Europe?
Which economic crisis led to the widespread adoption of welfare systems in Europe?
Tap to reveal answer
The Great Depression. Economic hardship led to social safety net expansion.
The Great Depression. Economic hardship led to social safety net expansion.
← Didn't Know|Knew It →
Identify the economic policy that aims to control the money supply and interest rates.
Identify the economic policy that aims to control the money supply and interest rates.
Tap to reveal answer
Monetary policy. Central bank tools to influence economic activity.
Monetary policy. Central bank tools to influence economic activity.
← Didn't Know|Knew It →
Name the 1944 conference that established the Bretton Woods system.
Name the 1944 conference that established the Bretton Woods system.
Tap to reveal answer
The Bretton Woods Conference. Created international monetary system and exchange rates.
The Bretton Woods Conference. Created international monetary system and exchange rates.
← Didn't Know|Knew It →
What is the economic term for a rapid decline in economic activity across an economy?
What is the economic term for a rapid decline in economic activity across an economy?
Tap to reveal answer
Recession. Temporary economic contraction lasting several months.
Recession. Temporary economic contraction lasting several months.
← Didn't Know|Knew It →
Which British economist advocated for increased government spending during a recession?
Which British economist advocated for increased government spending during a recession?
Tap to reveal answer
John Maynard Keynes. Developed theory of deficit spending during downturns.
John Maynard Keynes. Developed theory of deficit spending during downturns.
← Didn't Know|Knew It →
What was the main cause of the 1929 stock market crash?
What was the main cause of the 1929 stock market crash?
Tap to reveal answer
Speculative bubble. Asset prices exceeded their fundamental economic value.
Speculative bubble. Asset prices exceeded their fundamental economic value.
← Didn't Know|Knew It →
Which policy involves reducing interest rates to stimulate economic activity?
Which policy involves reducing interest rates to stimulate economic activity?
Tap to reveal answer
Monetary easing. Lower interest rates encourage borrowing and investment.
Monetary easing. Lower interest rates encourage borrowing and investment.
← Didn't Know|Knew It →
Identify the economic theory that suggests government intervention can stabilize economies.
Identify the economic theory that suggests government intervention can stabilize economies.
Tap to reveal answer
Keynesian economics. Government spending can stimulate demand during recessions.
Keynesian economics. Government spending can stimulate demand during recessions.
← Didn't Know|Knew It →