Hyperinflation:
a. Destroys the standard of deferred value and store of value functions of money but not the others.
b. Destroys the unit of account and medium of exchange functions of money but not the others.
c. Destroys the unit of account and store of value functions of money but not the others.
d. Tends to destroy none of the functions of money because a society always needs money.
e. Tends to destroy all the functions of money.
.E
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If an economic action generates more costs than benefits, the action
a. by definition increases the nation's economic welfare. b. should not be undertaken from an efficiency standpoint. c. should be subsidized by the government in order to make sure that it is undertaken. d. is desirable from a public welfare standpoint even though many individuals will be harmed.
If deflation is 0.5 percent per year and you receive a 1 percent decrease in your salary, then your
A. Real income falls, but your nominal income remains unchanged. B. Real and nominal income both rise. C. Real and nominal income both fall. D. Real income remains unchanged, but your nominal income rises.