Hi, I provided a guide on writing your letter.
<u>Explanation:</u>
Note, we are told you will assume the role of two acquaintances living in different countries who are involved in communication through letter writing.
Interestingly, an informal letter is the termed use to classify letters often written to acquaintances. They are called informal letters because in most cases the language structure is <em>informal (casual)</em> in nature, and the writers can express their personal emotions freely to each other.
Answer:
Pareto efficiency, or Pareto optimality, is an economic state where resources cannot be reallocated to make one individual better off without making at least one individual worse off. Pareto efficiency implies that resources are allocated in the most economically efficient manner, but does not imply equality or fairness. An economy is said to be in a Pareto optimum state when no economic changes can make one individual better off without making at least one other individual worse off.
Pareto efficiency, named after the Italian economist and political scientist Vilfredo Pareto (1848-1923), is a major pillar of welfare economics. Neoclassical economics, alongside the theoretical construct of perfect competition, is used as a benchmark to judge the efficiency of real markets—though neither perfectly efficient nor perfectly competitive markets occur outside of economic theory.
Answer: The German government economy was in a state of collapse, and its money was essentially worthless.
Explanation:
The Treaty of Versailles (1919), signed after the end of World War I, was very harsh in the terms imposed against Germany. Germany was forced to pay large reparation payments to the countries that it had fought against in the war. Along with accepting full responsibility for causing the war, Germany was ordered make monetary payments for the damage caused "as a consequence of the aggression of Germany and her allies." Occupation of territories in the Rhine and Ruhr valleys was threatened if Germany did not make good on reparations payments.
The Germany economy was crippled by the payments it was supposed to make, and its government (as the Weimar Republic) was unable to keep up with the payments. In 1923, French troops occupied the Ruhr region. Germans living in the region responded with civil disobedience and a workers strike. The Weimar Republic government sided with the workers and printed bank notes to pay the workers while they were on strike. Printing additional money with no real economic foundation to support the increased money supply led to extreme inflation. The German economy got worse and worse.
Then came the Great Depression, beginning in 1929. The Great Depression was worse in Germany than in America. The hyperinflation in Germany got so bad so that their currency became essentially worthless. I don't see the photo you mentioned of a man using German money as wallpaper. But I've attached another photo from the time period, which shows children playing with stacks of money as if they were building block toys -- another illustration that German currency wasn't really worth anything as money.
The bad situation in Germany made it possible for a radical leader like Hitler, making all sorts of bold promises, to win over enough people to rise to power.
Mongol leader Genghis Khan (1162-1227) rose from humble beginnings to establish the largest land empire in history. After uniting the nomadic tribes of the Mongolian plateau, he conquered huge chunks of central Asia and China. ... Genghis Khan died in 1227 during a military campaign against the Chinese kingdom of Xi Xia.
Unifying the Mongols was no small achievement — it meant bringing together a whole series of disparate tribes. Economically the tribal unit was optimal for a pastoral-nomadic group, but Chinggis brought all the tribes together into one confederation, with all its loyalty placed in himself.
Hope this helps !
Have a great day! :)