question

This country's declaration of war launched World War I.

answer

the Austrian declaration of war on Serbia

question

World War I resulted in about this many casualties.

answer

70 million

question

This many soldiers died in World War I.

answer

9.4 million

question

About this many American soldiers served in France during World War I.

answer

2 million

question

This many American soldiers served on the front lines in World War I.

answer

1.39 million

question

This many American soldiers died in World War I.

answer

114,000

question

This event was the immediate cause of World War I.

answer

Austrian Archduke Franz Ferdinand's assassination

question

Austrian Archduke Franz Ferdinand's assassin was of this ethnic and national background.

answer

Bosnian Serb

question

This development prompted Germany's declaration of war on Russia in 1914.

answer

Russia's military mobilization

question

This country declared war on Germany on August 4, 1914.

answer

Great Britain

question

The growing power of this country increased tensions in Europe in the years just prior to World War I.

answer

Germany

question

These two European countries formed an alliance with Russia before 1914.

answer

Great Britain and France

question

These two European countries formed an alliance with Austria-Hungary before 1914.

answer

Germany and Italy

question

Great Britain undertook this form of economic warfare after declaring war on Germany in 1914.

answer

naval blockade

question

The German-Austrian military alliance of World War I is also known by this name.

answer

the Central Powers

question

The British declaration of war in 1914 had this immediate economic impact on the United States.

answer

curtailment of American trade with the Central Powers

question

Great Britain imposed its naval blockade on Germany in 1914 for this purpose.

answer

cutting Germany off from external assistance

question

Germany used this military weapon to isolate the British economy in World War I.

answer

U-boats (submarines)

question

This Allied country's economy was the best equipped to manage the burden of the World War I effort.

answer

Great Britain

question

Great Britain dedicated this percentage of its 1917 output to the war effort by 1917.

answer

40%

question

British output increased by this percentage from 1913 to 1918.

answer

13%

question

This strategically important British industry's output rose by 25% from 1913 to 1917.

answer

steel industry

question

This sector's output rose markedly when it was taken over by the British government in 1915.

answer

munitions production

question

This British government department took over key war industries in 1915.

answer

Ministry of Munitions

question

This strategically important British industry's output declined over the course of World War I.

answer

coal mining

question

This factor caused British coal output to fall over the course of World War I.

answer

the enlistment of many miners

question

This country suffered the most physical damage and financial costs during World War I.

answer

France

question

World War I was mostly fought in this country.

answer

France

question

The outbreak of World War I caused a decline in French production for this reason.

answer

enlistment of many French workers

question

France's initial World War I army enlisted approximately this many soldiers.

answer

5 million

question

France's World War I soldiers worked mainly in this area of the economy.

answer

private industry

question

These three groups replaced French soldiers in the domestic labor force from the start of World War I.

answer

women, children, and non-enlisted men

question

Government spending made up this percentage of the French economy in 1918.

answer

53.5%

question

Government spending made up this percentage of the French economy in 1913.

answer

10%

question

This British ally was economically underdeveloped at the start of World War I.

answer

Italy

question

Most governments adopted this method of ensuring sufficient war materiel production in World War I.

answer

central planning by the government

question

This Italian government department planned overall wartime production during World War I.

answer

Supreme Committee of Ministers

question

This Italian government department made day-to-day production decisions during World War I.

answer

Under-Secretariat for Arms and Munitions

question

The Italian government used this policy to force private firms to produce war material during World War I.

answer

takeover of private factories

question

These three Italian industries made the greatest production gains in World War I.

answer

mechanical, engineering, and hydroelectric

question

This Italian industry's output increase during World War I was due largely to a single firm.

answer

automotive manufacturing

question

This firm increased Italian automotive manufacturing output substantially during World War I.

answer

FIAT

question

Italy's increase in war-related output during World War I had this negative economic impact.

answer

decrease in other sectors' capital stock

question

This British ally's economy was considered "backward" at the start of World War I.

answer

Russia

question

Russia's 1914 per capita income is estimated to have been at least this percentage of the United States'.

answer

11%

question

Russia's 1914 per capita income is estimated to have been at most this percentage of the United States'.

answer

30%

question

By these two measures, Russia's economy was poorly developed relative to the United States and Great Britain in 1914.

answer

production levels and income

question

Russia's economy enjoyed these two main advantages in World War I.

answer

large population and massive agricultural capacity

question

War production made up this percentage of Russian economic output in World War I.

answer

24%

question

Russian economic output in World War I was mainly limited by this factor.

answer

inability to organize and mobilize its resources

question

This country withdrew from World War I in December 1917.

answer

Russia

question

This country entered World War I soon after Russia's withdrawal.

answer

the United States

question

German attacks on these two vessels triggered American entry into World War I.

answer

the Lusitania and the Sussex

question

RMS Lusitania sailed from this city on its last voyage.

answer

New York

question

This city was RMS Lusitania's destination on its last voyage.

answer

Liverpool

question

RMS Lusitania sank at this location.

answer

off the Irish coast

question

Approximately this many passengers died in the sinking of RMS Lusitania.

answer

2000

question

This many Americans died in the sinking of RMS Lusitania.

answer

159

question

The United States was maintaining this policy towards World War I at the time of the RMS Lusitania's sinking.

answer

official neutrality

question

The Germans mistook the Sussex as this type of vessel.

answer

a mine-laying vessel

question

The Sussex belonged to this country.

answer

France

question

The Sussex was this type of vessel.

answer

a cross-channel ferry

question

The Sussex took this action in response to being attacked by a German submarine in 1916.

answer

sought harbor in a French port

question

Approximately this many passengers died in the German attack on the Sussex.

answer

50

question

This many American passengers suffered injuries in the German attack on the Sussex.

answer

25

question

Woodrow Wilson decided on this form of response to Germany's attack on the Sussex.

answer

issuance of a strong warning to Germany

question

Woodrow Wilson warned Germany against attacking these two types of vessels after the attack on the Sussex.

answer

vessels carrying passengers and freight

question

Woodrow Wilson threatened to carry out this action after the German attack on the Sussex.

answer

severance of diplomatic ties

question

Germany issued this policy in response to American protests at the attack on the Sussex.

answer

the Sussex pledge

question

Germany's Sussex pledge entailed this policy.

answer

cession of attacks on non-military ships

question

Germany's Sussex pledge declared that this type of ship would still be subject to attack.

answer

merchant ships

question

Germany's Sussex pledge declared that merchant ships would only be attacked under these two conditions.

answer

provision of safe passage to their crew and the searching of the ships

question

This reason motivated Germany's new policy of submarine warfare in 1917.

answer

faltering of its war effort

question

Germany declared this new policy of submarine warfare in 1917.

answer

all-out warfare on all ships

question

Germany sank this many American merchant ships in March 1917.

answer

five

question

The publication of this document in March 1917 helped to bring the United States into the war.

answer

the Zimmerman telegram

question

The Zimmermann telegram was addressed to this country.

answer

Mexico

question

The Zimmermann telegram asked Mexico to declare this.

answer

war on the United States

question

This country intercepted Germany's Zimmerman telegram.

answer

Great Britain

question

This status characterized the war in Europe at the time when the United States entered World War I.

answer

stalemate

question

The United States faced this geographical obstacle to mobilization in World War I.

answer

the need to transport troops and material across the Atlantic

question

This many men served in the American army during World War I.

answer

4 million

question

This many men served in the American military during World War I.

answer

4.8 million

question

The United States implemented this type of conscription after entering World War I.

answer

selective service

question

American conscription in World War I had this minimum age limit.

answer

18

question

American conscription in World War I had this maximum age limit.

answer

45

question

This many men registered under the American selective service law during World War I.

answer

24.2 million

question

This many men entered the American military through selective service during World War I.

answer

2.8 million

question

American soldiers fighting in World War I trained for this length of time on average.

answer

8 months

question

American soldiers fighting in World War I trained in the United States for this length of time on average.

answer

6 months

question

American soldiers fighting in World War I trained in Europe for this length of time on average.

answer

2 months

question

This means of trans-Atlantic military transport was not available to the United States in World War I.

answer

military aircraft

question

This factor was the main threat to American trans-Atlantic transports during World War I.

answer

German submarines

question

German submarines sank this amount of American military shipping in World War I.

answer

200,000 deadweight tons

question

Most American shipping losses in World War I were due to this cause.

answer

torpedo attacks

question

German torpedoes sank this amount of American military shipping in World War I.

answer

142,000 deadweight tons

question

The United States transported this amount of cargo to Europe during World War I.

answer

7.5 million tons

question

The American declaration of war on Germany in 1917 required the United States to organize this military resource immediately.

answer

trans-Atlantic transport fleet

question

This ally made the greatest contribution to the American transport fleet in World War I.

answer

Great Britain

question

Great Britain provided this percentage of the American transport fleet in World War I.

answer

50%

question

This company provided most of the domestically-owned American transport ships in World War I.

answer

Emergency Fleet Corporation

question

The Emergency Fleet Corporation obtained this tonnage of new ships for the American military in World War I.

answer

1 million tons

question

The American war effort utilized this tonnage of new ships in World War I.

answer

2 million tons

question

These four wartime agencies had primary responsibility for coordinating World War I production in the United States.

answer

War Industries Board, Railroad Administration, Food Administration, and Fuel Administration

question

The United States established this wartime agency in July 1917.

answer

War Industries Board

question

The War Industries Board was reorganized in March 1918 for this reason.

answer

its early inefficiency

question

The American War Industries Board had this purpose.

answer

procuring war products

question

This function was the American War Industries Board's primary responsibility.

answer

price-setting for strategically important goods

question

This American committee oversaw price-setting for strategically important goods during World War I.

answer

Price Fixing Committee

question

The United States used this method to set war-related goods' prices in World War I.

answer

bulk-line pricing

question

Bulk-line pricing overcame this problem in the United States during World War I.

answer

differing costs among producers

question

Bulk-line pricing determined prices according to this variable in the United States during World War I.

answer

fraction of total output required

question

The vertical bulk-line represented this variable.

answer

percentage of output required by the government

question

The bulk-line price is set at the intersection of the bulk line and this economic variable.

answer

the cost curve plus profit

question

This circumstance would result in shortages in the bulk-line pricing system.

answer

demand exceeding the bulk-line

question

This mechanism would reduce shortages associated with bulk-line pricing in a free market.

answer

increase of prices to meet demand

question

Free market mechanisms were unable to prevent American bulk-line shortages during World War I for this reason.

answer

the government fixing of prices for war goods

question

The American government implemented this policy to prevent bulk-line shortages during World War I.

answer

setting of production priorities

question

The American production priorities rating system used these five ratings.

answer

AA, A, B, C, D

question

The American production priorities system imposed this requirement on World War I producers.

answer

faster completion of higher priority orders

question

This act of the American government created the Food Administration in August 1917.

answer

Lever Food and Fuel Act

question

This American official and future president oversaw the World War I Food Administration.

answer

Herbert Hoover

question

The American Food Administration refrained from these two common methods of controlling food policy.

answer

price controls and food rationing

question

The American Food Administration relied on this method to implement its measures.

answer

voluntary cooperation

question

The Food Administration introduced this initiative to reduce American meat consumption.

answer

Meatless Mondays

question

The American Food Administration issued licenses to firms in these two sectors.

answer

food processing and food distribution

question

The American Food Administration enforced voluntary cooperation with its initiatives through this means.

answer

revocation of food licenses

question

Woodrow Wilson imposed this policy on American railroads in late 1917.

answer

nationalization

question

This department oversaw American railroads during World War I.

answer

Railroad Administration

question

The American Railway Administration was created to tackle this problem.

answer

rail traffic congestion

question

Congestion on American railways had this impact on its World War I military effort.

answer

slow transport of war-related supplies

question

This good was the main war-related supply transported on American railroads during World War I.

answer

coal

question

American railroads were nationalized for this long during World War I.

answer

two years

question

Low income had these two impacts on American railway financing prior to World War I.

answer

lack of new capital and failure to maintain their credit

question

The United States' entry into World War I increased its railroads' inefficiency for this reason.

answer

the increase in traffic due to the war effort

question

The Railroad Administration ran special trains during World War I for this purpose.

answer

transporting American troops

question

The Railroad Administration transported this many American troops monthly in World War I.

answer

616,000

question

The American Railroad Administration ran this many special trains during World War I.

answer

13,912

question

The length of American troop trains' journeys was this average distance during World War I.

answer

800 miles

question

Woodrow Wilson created this department in response to concerns about fuel shortages in August 1917.

answer

Fuel Administration

question

The Fuel Administration was created in August 1917 through this means.

answer

executive order

question

The Fuel Administration had control over this aspect of the American market for fuel.

answer

the price of coal at mines

question

The American Fuel Administration was responsible for this wartime function.

answer

ensuring the delivery of coal

question

The American Fuel Administration worked closely with this other department.

answer

the Railroad Administration

question

These expenses made up the "gross cost" of World War I.

answer

actual expenditures of the combatant countries

question

These two costs should be subtracted from the gross cost of World War I to yield the net cost.

answer

"advances" and loans provided by wealthier allies

question

The use of net costs rather than gross costs of World War I avoids this inaccuracy in accounting.

answer

double-counting expenditures

question

The net cost of World War I per capita in a country is obtained through this method.

answer

division of total net costs by that country's population

question

Those countries involved in World War I incurred this direct financial net cost.

answer

$186 billion

question

This Allied country incurred the greatest costs in World War I.

answer

Great Britain

question

Great Britain incurred this net cost of war per capita as a result of World War I.

answer

$766

question

This Allied country incurred the second-highest net cost of war per capita as a result of World War I.

answer

France

question

France incurred this net cost of war per capita as a result of World War I.

answer

$613

question

Germany incurred this net cost of war per capita as a result of World War I.

answer

$557

question

The United States incurred this net cost of war per capita in World War I.

answer

$229

question

The net cost of war per capita amounted to this percentage of American income during World War I.

answer

31%

question

The net cost of war per capita in the United States came to this amount in 2011 dollars.

answer

$3,420

question

Combatant countries incurred these five types of indirect costs during World War I.

answer

property losses, shipping losses, lost production, cost of war relief, and the capitalized value of deaths

question

This important economic term can also refer to the value of the forgone activities in a wartime economy.

answer

opportunity cost

question

The Allies paid this net cost in World War I.

answer

$125.6 billion

question

The Central Powers paid this net cost in World War I.

answer

$60.6 billion

question

The capitalized value of World War I deaths came to this estimated total cost.

answer

$33.6 billion

question

Property losses on land during World War I amounted to this total cost.

answer

$30.0 billion

question

Shipping and cargo losses during World War I amounted to this total cost.

answer

$6.8 billion

question

These four categories represented the main types of physical capital destroyed during World War I.

answer

domestic assets, overseas assets, reparations bill, and national wealth

question

This country lost the greatest proportion of its prewar human capital during World War I.

answer

France

question

This country lost the greatest proportion of its prewar domestic assets during World War I.

answer

France

question

These two countries lost the greatest proportion of their national wealth during World War I.

answer

France and Germany

question

Germany's reparations bill represented this percentage of its pre-World War I assets.

answer

51.6%

question

World War I had this estimated total cost.

answer

$337.85 billion

question

Military deaths in World War I formed this percentage of the alliances' total population.

answer

1%

question

This country suffered the most military deaths in proportion to its population in World War I.

answer

Serbia

question

Serbia's military deaths in World War I made up this percentage of its total population.

answer

5.7%

question

The Central Powers' military deaths in World War I made up this percentage of their total population.

answer

2.6%

question

The Allies' military deaths in World War I made up this percentage of their total population.

answer

0.7%

question

This term refers to the overall stock of skill and knowledge in economies.

answer

human capital

question

This term refers to the conversion of future economic values into current values.

answer

capitalization

question

Young soldiers killed in World War I represented an especially high cost in human capital due to this factor.

answer

their being in the prime of life

question

Russia's losses in World War I appear higher when expressed relative to its prewar assets for this reason.

answer

Russia's low prewar capital stock

question

Governments used these three methods of financing the World War I effort.

answer

loans, taxation, and printing of money

question

This method financed most of the United States' World War I military spending.

answer

government borrowing

question

American government borrowing in World War I raised this amount of money.

answer

$19 billion

question

The United States sold this financial instrument to raise funds for World War I.

answer

Liberty Bonds

question

This type of subscriber was the largest purchaser of Liberty Bonds.

answer

individual Americans

question

The United States issued this many Liberty Bonds in World War I.

answer

four

question

The First Liberty Loan bond issue raised this amount of money.

answer

$5 billion

question

The First Liberty Loan was issued at this rate.

answer

3.5%

question

The Second Liberty Loan bond issue raised this amount of money.

answer

$3 billion

question

The Second Liberty Loan was issued at this rate.

answer

4%

question

The Third Liberty Loan bond issue raised this amount of money.

answer

$3 billion

question

The Third Liberty Loan was issued at this rate.

answer

4.5%

question

The Fourth Liberty Loan bond issue raised this amount of money.

answer

$6 billion

question

The Fourth Liberty Loan was issued at this rate.

answer

4.25%

question

The four Liberty Loans raised this amount of money in total.

answer

$17 billion

question

The first American income tax was introduced during this period.

answer

the Civil War

question

This constitutional amendment permitted income tax in the United States.

answer

the 16th Amendment

question

This change in American tax policy occurred during World War I.

answer

increase in income tax

question

Tax revenue contributed this amount of American spending in World War I.

answer

$7.6 billion

question

Tax revenue contributed this percentage of American spending in World War I.

answer

24.5%

question

The Federal Reserve was founded just prior to this event.

answer

beginning of World War I

question

The Federal Reserve financed World War I spending through exercising this function allocated to it.

answer

printing money

question

The Federal Reserve printed this amount of currency for government spending during World War I.

answer

$4.4 billion

question

The Federal Reserve's policy of printing money contributed this percentage of government spending during World War I.

answer

14.1%

question

The Federal Reserve financed World War I spending through this open-market operation.

answer

purchasing government bonds

question

The Federal Reserve paid for World War I government bonds through this method.

answer

creation of new deposits

question

Great Britain's government primarily used this method of financing World War I spending.

answer

debt financing

question

British government debt levels were this percentage of total economic output in 1918.

answer

127.5%

question

This symbol stands for the British pound.

answer

£

question

The British economy produced this value of goods and services in 1918.

answer

£5.866 billion

question

Great Britain had this amount of national debt in 1918.

answer

£7.481 billion

question

Great Britain issued this many war loans during World War I.

answer

three

question

Great Britain primarily relied on these two sources of debt financing in World War I.

answer

domestic war loans and loans from the United States

question

Taxes contributed this percentage of British war expenditure in World War I.

answer

24.5%

question

British tax revenues in the first year of World War I contributed this percentage of war expenditure.

answer

40%

question

The United States spent this amount on its World War I military effort.

answer

$31 billion

question

Government borrowing funded this percentage of the United States' World War I military spending.

answer

61.4%

question

This term refers to taxes imposed on specific goods.

answer

excise taxes

question

This term refers to taxes imposed on all goods.

answer

sales taxes

question

These three types of British taxes rose significantly during World War I.

answer

excise, property, and income taxes

question

Great Britain imposed excise taxes on these five types of goods during World War I.

answer

alcohol, tobacco, tea, automobiles, and musical instruments

question

French government spending made up this percentage of GDP at the start of World War I.

answer

10%

question

French government spending made up approximately this percentage of GDP by the end of World War I.

answer

50%

question

France initially relied on this method of financing wartime expenditure in World War I.

answer

short-term debt

question

France abandoned the method of short-term debt financing in World War I for this reason.

answer

its unviability in a protracted war

question

France's debt levels amounted to this percentage of its GDP in 1916.

answer

124%

question

France's debt levels were this percentage of GDP before the outbreak of World War I.

answer

65%

question

French use of taxation to finance World War I was limited by this factor.

answer

public opposition to increased taxes

question

Unlike its allies, France did not rely significantly on this type of tax to fund its World War I spending.

answer

income tax

question

France introduced this tax in 1916.

answer

tax on extraordinary war profits

question

This indirect tax helped to finance French war expenditure during World War I.

answer

the inflation tax

question

An increase in this variable causes inflation.

answer

overall money supply

question

Inflation has this impact on consumer income.

answer

decreased purchasing power

question

The French money supply increased by this percentage annually from 1915 to 1919.

answer

20%

question

French prices rose by this percentage annually from 1915 to 1919.

answer

19.7%

question

France implemented this policy to check inflation during World War I.

answer

price controls

question

This method funded most of Germany's wartime spending in World War I.

answer

debt financing

question

Debt financing contributed this percentage of German war spending in World War I.

answer

81%

question

The German money supply increased by this percentage during World War I.

answer

400%

question

German prices increased by approximately this percentage during World War I.

answer

100%

question

German World War I debt led to this post-war economic problem.

answer

hyperinflation

question

The acronym GDP stands for this term.

answer

Gross Domestic Product

question

GDP has this definition.

answer

value of all goods and services produced in an economy in a given year

question

GDP can be measured in these two ways.

answer

expenditure and income

question

The expenditure approach calculates GDP according to this measure.

answer

total spending of different economic sectors

question

The expenditure approach to GDP includes these four economic sectors.

answer

private households, firms, governments, and foreign buyers

question

The expenditure and income approaches to GDP produce equal values by definition for this reason.

answer

that all expenditure is another person's income

question

The income approach calculates GDP according to this measure.

answer

total income in an economy

question

Wartime spending increases do not increase economic well-being for this reason.

answer

its failure to contribute to material wealth and living standards

question

This economic variable distorts the real value of GDP.

answer

inflation

question

Real GDP refers to this measurement.

answer

GDP with price levels held constant

question

The United States economy was in this period of the business cycle at the start of World War I.

answer

recession

question

The start of World War I created this stimulus to the American economy.

answer

increased exports to Europe

question

This fraction of American economic growth during World War I occurred before it joined the war.

answer

two-thirds

question

This country's GDP declined the most during World War I.

answer

France

question

This country's GDP increased the most during World War I.

answer

Great Britain

question

Great Britain's GDP increased by this percentage from 1913 to 1918.

answer

14.8%

question

The United States' GDP increased by this percentage from 1913 to 1918.

answer

13.2%

question

Germany's GDP declined by this percentage from 1913 to 1917.

answer

19.2%

question

Austria's GDP declined by this percentage from 1913 to 1917.

answer

26.7%

question

Russia's GDP declined by this percentage from 1913 to 1917.

answer

32.3%

question

France's GDP declined by this percentage from 1913 to 1918.

answer

36.1%

question

This many American soldiers had been demobilized by April 1919.

answer

2 million

question

This many American soldiers reentered the workforce by mid-1920.

answer

4 million

question

Demobilization had this short-term impact on the American economy after World War I.

answer

economic downturn

question

This sector fuelled American economic recovery after World War I.

answer

the government

question

The American government paid this amount of money to all discharged soldiers after World War I.

answer

$60

question

The American government loaned this amount of money after World War I to its allies.

answer

$2 billion

question

American loans to Europe helped fuel domestic economic growth through this means.

answer

European spending of the loans on American goods

question

This region of Europe was especially dependent on American imports after World War I.

answer

Central Europe

question

American business spending after World War I increased greatly in these two areas.

answer

plants and equipment

question

This economic sector was the main contributor to post-World War I growth in the United States.

answer

consumer durable goods industries

question

This term refers to the period of strong economic growth following World War I.

answer

the Roaring Twenties

question

Durable goods have this definition.

answer

goods lasting at least three years on average

question

These two categories are the main types of consumer durable goods.

answer

household appliances and automobiles

question

Germany's 1919 GDP is estimated to be as low as this percentage of its 1913 level.

answer

55%

question

This characteristic of German agriculture caused it to be especially hard-hit by World War I.

answer

its labor-intensive nature

question

This treaty between Germany and the Allies ended World War I.

answer

the Versailles Treaty

question

These three leaders drew up the terms of the Versailles Treaty.

answer

George Clemenceau, Woodrow Wilson, and David Lloyd George

question

The "ratchet effect" refers to this impact of World War I.

answer

permanently higher government spending

question

According to Robert Higgs, the "ratchet effect" of World War I formed the basis for this later shift in American government spending.

answer

the New Deal expansion of government

question

Scholars argue against the "ratchet effect" of World War I spending primarily on these two grounds.

answer

the pre-war expansion of government and the limited areas in which spending increased

question

Broadberry and Harrison argue that the "ratchet effect" of World War I applied only to this type of spending.

answer

debt service payments

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These kinds of payments would be considered debt service payments.

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payments over a time period on the interest and principal of a loan

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This British economist published a critique of the Versailles Treaty in 1919.

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John Maynard Keynes

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John Maynard Keynes published this critique of the Versailles Treaty in 1919.

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The Economic Consequences of the Peace

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John Maynard Keynes argued that the Versailles Treaty prevented this necessity for postwar stability.

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an integrated and unified Europe

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John Maynard Keynes argued that the Versailles Treaty was inconsistent with this earlier declaration.

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the "Fourteen Points"

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This leader formulated the "Fourteen Points".

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Woodrow Wilson

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The "Fourteen Points" stipulated German compensation payments for this type of damage.

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damage to invaded territory

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The "Fourteen Points" excused Germany from the obligation to pay for these three types of wartime damage.

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damage from air raids, submarine attacks, and naval bombardments

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The Versailles Treaty imposed this amount of reparations on Germany.

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$33 billion

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The Versailles Treaty required Germany to pay this amount per year until 1925.

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$325 million

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The Versailles Treaty required Germany to pay this much money per year after 1925 in interest.

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$900 million

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John Maynard Keynes argued that this sum of post-World War I German reparations was appropriate.

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$10 billion

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The Versailles Treaty reparations imposed on Germany were lower than those of this 1871 war.

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the Franco-Prussian War

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Great Britain owed the United States this much money after World War I.

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$4 billion

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France owed the United States this much money after World War I.

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$2.7 billion

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World War I saw the introduction of technological advances in these four military weapons.

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machine guns, tanks, attack aircraft, and poison gas

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These two factors triggered the American decision to enter World War I.

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German attacks on American ships and its attempt to ally with Mexico

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World War I amounted to approximately this total cost in present-day dollars.

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$5 trillion

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These two combatant countries enjoyed economic growth during World War I.

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the United States and Great Britain

Economics – WWI – Flashcards

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