Which of the following statements best defines hyperinflation?
A) It is a situation when the annual rate of inflation in an economy is between 20% to 50%.
B) It is a situation when the annual rate of inflation in an economy exceeds 50%.
C) It is a situation when the annual rate of inflation in an economy is between 10% to 20%.
D) It is a situation when the annual rate of inflation in an economy is between 0% to 10%.
B
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The theory of PPP suggests that if one country's price level falls relative to another's, its currency should
A) depreciate. B) appreciate. C) float. D) do none of the above.
Government can play a major positive role in the early stage of economic development by:
A. Providing an adequate infrastructure B. Establishing price controls for products C. Promoting exports by subsidizing them D. Creating marketing boards for export products