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nazi economics #1
1933-36, schacht's new plan
| Question | Answer |
|---|---|
| was the german economy in the early 1930s good or bad | bad |
| why was the german economy so bad in the 1930s | wall street crash |
| what was the unemployment rate in 1931 | almost 9 million |
| 4 of the nazis economic aims | - eliminate unemployment -increase production -achieve autarky -rearmament |
| law to reduce unemployment | extended schleicher and papens work schemes |
| when was the law to reduce unemployment passed | june 1933 |
| RAD | national labour service |
| national labour service | a job creation plan including the building og Autobhans |
| what did the nazis call the effort to reduce unemployment | the battle for work |
| why did the german government lend money to rpivate companies in the effort to reduce unemployment | the private companies would create jobs |
| when was the national labour service (RAD) established | 1935 |
| how much state investment was dedicated to work creation schemes between 1932-35 (RM) | 5 billion RM |
| how much had the unemployment rate fallen between 1935-36 (percentage) | 7.4 percent |
| why were financial benefits offered to farmers and small businesses (2) | -stimulated economic growth -rewarded a demographic of nazi supporters |
| what policy did the nazis implement RE imports to protect german farmers | tariffs on imported goods |
| how much has state investment in public works increased between 1933-16 (percentage) | 70 percent |
| when was the voluntary labour service established | 1933 |
| which demographic did the voluntary labour service target when employing | young men |
| what were the objectives of the new jobs created under the nazis (4) | -rearmament -housing -motorisation -land reclamation |
| land reclamation | finding purpose for land damaged during WW1 |
| what other economic problem was germany facing by 1934 | trading crisis |
| what was the german trading crisis | germany was importing more than it was exporting |
| what problem did the trading crisis create | balance of the payments problem |
| balance of the payments problem | germany's foreign currencey and gold reserves = low |
| who becam minister for economics in 1934 | Hjalmar Schacht |
| what did Schacht introduce in september 1934 | new plan |
| new plan | resolve germany's trading crisis/ balance of payments problem |
| what 2 main measures did schacht introduce to resolve the balance of payments problem/trading crisis | -bilateral trade treaties -regulating reichsmarks -mefo bills |
| bilateral trade treaties | trade agreements between two countries |
| what area of the world did germany form many bilateral trade agreements with | balkans |
| 2 countries germany formed many bilateral trade treaties with | yugoslavia, romania |
| what did germany's extensive trade agreements with the balkans lead to | german economic influence over the balkans |
| what did germany's bilateral trade agreements prevent and enable (2) | -prevented germany increasing its foreign currency deficit -enabled germany to still obtain essential raw materials |
| how did germany/schchat regulate reichsmarks | germany would by raw materials from other countries on the condition that the goods/money paid to the other country coud only be used to buy german goods |
| how did regulating reichsmarks improve germany's trading crisis | increased german exports |
| mefo bills (2) | -special bills that guaranteed the government would pay for something at a later date -the bills could be kept for 5 years (with an increased 4 percent interest rate per year) before being exchanged for money |
| what did the mefo bills do RE germany's economic crisis (2) | -disguise government debts -decrease pressure of payment |
| what statistic indicates nazi success at decreasing unemployment | unemployment rate falls by over 4 million between 1932-36 |
| what statistic indicates nazi success in increasing production | industrial production increases 60 percent between 1933-36 |
| how much did overall government expenditure increase between 1932-36 (RM) | 4.4 billion RM |
| how much does spending on rearmament increase between 1932-36 (RM) | 9.5 million RM |
| did schacht's new plan solve the german economic crisis | no it just disguised it |
| did schacht's mefo bills increase or reduce government debt | increase |
Created by:
georgieN007
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