Hyperinflation Flashcards
1
Q
What were the effects of hyperinflation?
A
People with savings or those on a fixed income found themselves becoming bankrupt
2
Q
Who benefitted from the hyperinflation?
A
1.) Businessmen- if they borrowed money from banks, they were now able to pay back these debts
2.) Food shortages led to the rise in prices, and benefited farmers
3.) Foreigners- they could afford things that most Germans couldn’t
3
Q
What was the value of £1 in November 1923?
A
1,680,800,000,000,000 marks
