A 1,000,000,000 (1 billion) Mark Banknote, issued in Bavaria/Germany during the hyperinflation of 1923.

George Grosz

Germany: a Winter's Tale. 1917

Eclipse of Sun. 1926

Glad to Be Back.

1943

Cain, or, Hitler in Hell.

1944

CURRENCY DEPRECIATIONCountry X’s Currency Becomes Less valuable

-- 1 marks/dollar shifts to 1.8 mark/dollar

•Country X’s Exports Rise -- Price of Exports Decreases; Demand for Exports Rises

•Country X’s Imports Fall -- Price of Imports Increases; Demand for Imports Falls

•Country X’s Trade Deficit Falls-- Sells more to other countries than it buys from them