Inflation Flashcards
(3 cards)
1
Q
What is inflation?
A
It is the rate at which the average price level of a product increases over time, or the gradual rise of general prices.
2
Q
What is hyperinflation?
A
It is an extreme level of inflation where everything in the country becomes very expensive until money is basically useless.
3
Q
What is the general rate for a case of hyperinflation?
A
More than 50% per month.
