Hyperinflations occur because governments want to spend more than they raise in taxes, and they pay for the extra purchases by printing money

What does efficiency mean?

a) Society is conserving resources in order to save them for the future b) Society's goods and services are distributed fairly among society's members c) Society has lessened its dependence on foreign energy sources d) Society is getting the most it can from its scarce resources

When Classical economists of the 1930s looked at the Great Depression, they:

A. thought it was a result of prices adjusting too quickly. B. suggested wages were too flexible. C. blamed it on activist fiscal and monetary policies. D. lacked a good explanation of why it was happening.