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The Great Inflation
Beginning of essay
In late-1922 the German government were forced to ask the Allies for a moratorium on reparations payments; this was refused, and she then defaulted on shipments of both coal and timber to France. By January of the following year, French and Belgian troops had entered and occupied the Ruhr. The Germ ....
Middle of essay
....e foreign exchange value of a currency, when an adverse balance of payments reduces foreign investors demand for the currency. A falling exchange rate increases the cost of imports and, therefore, the cost of living. Wages rise as workers try to maintain their standard of living, especially if previous institutional arrangements have linked wages to living costs. Firms paying higher wages raise the price of the goods they sell, prices rise still further, the foreign exchange value of the currenc.... |
| Number of words: 1571 |
Approximate pages: 6 |
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