Social Market Economy quiz

More questions about Social Market Economy

These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.

1. 1 Easy

   What object became Ludwig Erhard's trademark?

   Answer: A cigar

   Why: To many West Germans of the 1950s, the cigar-smoking Erhard was the very picture of the economic miracle.

2. 2 Medium

   Which city gave its name to Walter Eucken's school of economists?

   Answer: Freiburg

   Why: Eucken's circle wanted the state to guarantee fair rules of competition but keep out of day-to-day business decisions.

3. 3 Hard

   Which 'magic square' goal joins stable prices, jobs and growth?

   Answer: External balance

   Why: The square counts as magic because its four goals partly clash and are rarely all met at once.

4. 4 Easy

   Which agency privatized East Germany's state firms from 1990?

   Answer: Treuhandanstalt

   Why: Instead of a profit, the agency closed at the end of 1994 with a deficit of about 256 billion D-Marks.

5. 5 Medium

   What did a 1957 reform tie West German pensions to?

   Answer: Wage growth

   Why: The same reform switched to pay-as-you-go, so each year's contributions pay that year's pensions.

6. 6 Hard

   What does 'Varieties of Capitalism' call Germany's type of economy?

   Answer: Coordinated market economy

   Why: The opposite type, the liberal market economy, takes the United States as its model case.