Hyperinflation is
A. The movement of taxpayers to higher tax brackets because of rising prices.
B. A common problem in the United States.
C. An inflation rate in excess of 20 percent, lasting at least one year.
D. An inflation rate in excess of 200 percent, lasting at least one year.
Answer: D
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You have a $500 saving bond. If the nominal interest rate is 10 percent, then the inflation rate must be
A) 10 percent if in real terms you earned $200. B) 10 percent if in real terms you earned $100. C) zero, otherwise you would sell the bond. D) 4 percent if in real terms you earned $30. E) 4 percent if in real terms you earned $70.
Economic growth depends on
A) low tax rates. B) high government spending. C) high rates of consumption. D) increases in the capital stock as a result of saving.