POST WAR WORLD 1946 1959
POST WAR EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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savings became worthless
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business became bankrupt because they could not keep up with inflation
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prices of goods increased by the minute!
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Some lost their jobs
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The very poor were affected the most.
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Detailed explanation-1: -The hyperinflation made day-to-day survival arduous for ordinary Germans, most of whom were members of the working classes employed in factories. The exponential price rise made it difficult to obtain even basic goods like bread, meat, and coal to heat homes. Pay received one day was often worthless the next.
Detailed explanation-2: -Effects of Hyperinflation People may begin hoarding goods, such as food. In turn, there can be food supply shortages. When prices rise excessively, money decreases in value because inflation causes it to have less purchasing power. Less purchasing power means consumers spend more to buy less.
Detailed explanation-3: -Hyperinflation is a condition where the price of everything in a national economy goes out of control and increases very quickly. After the First World War, Germany went through one of the worst periods of hyperinflation in history. The excessive printing of currency triggered this by the government.