Historic Inflation Events: Can You Identify Them All?
martialdouble-t
Created 6/24/2024
From Weimar Germany to Zimbabwe, test your knowledge on historic inflationary episodes.
1. What was one of the main causes of the United States' longest stretch of heightened inflation in the 1970s?
End of World War II
Oil embargo by OPEC
Great Depression
Stock market crash
2. During which inflationary episode did Paul Volcker become the Chair of the Federal Reserve?
July 1946–October 1948
April 1973–October 1982
April 1989–May 1991
July 2008–August 2008
3. What event triggered the inflationary episode of April 1989–May 1991?
End of Korean War
Iraq invaded Kuwait
Stock market crash
Great Recession
4. What commodity's price spike led to inflation in July 2008–August 2008?
Gold
Natural Gas
West Texas Intermediate crude oil
Cotton
5. Which country's hyperinflation peaked at over 89 sextillion percent in November 2008?
Yugoslavia
Zimbabwe
Germany
Hungary
6. What economic event caused the rapid post-World War II inflationary episode in the U.S.?
End of price controls, supply shortages, and pent-up demand
Oil embargo
Great Depression
Stock market crash
7. What major economic policy did President Nixon implement to reduce inflation during March 1969–January 1971?
Currency devaluation
Wage and price freeze
Massive tax cuts
Interest rate cuts
8. What was the cause of Hungary's hyperinflation right after World War II?
Reparation payments
Natural disaster
Commodity exports
Technological advancements
9. During which period did the Irish Great Famine and Highland Potato Famine occur?
1840–1870
1918–1939
1945–1973
1973–1982
10. Which war influenced the inflationary episode of December 1950–December 1951?
Vietnam War
World War I
Korean War
Gulf War
11. Which country experienced the worst hyperinflation in history with prices doubling every 15 hours?
Zimbabwe
Yugoslavia
Hungary
Brazil
12. What was a primary cause of inflation in the episode of July 1946–October 1948?
Reparations payments
Elimination of price controls post-WWII
Global financial crisis
Introduction of new currency
13. Which event did not play a significant role in generating inflation during April 1973–October 1982?
1973 oil crisis
Iranian Revolution
Iran-Iraq War
Tech bubble burst
14. Which inflationary episode was closely associated with skyrocketing gas prices in 2008?
April 1973–October 1982
April 1989–May 1991
July 2008–August 2008
December 1950–December 1951
15. Which historical event is linked with the 1973–1980 energy crisis?
World War I
Formation of NATO
Oil embargo by OPEC
Berlin Wall fall
