Hyperinflation is
A)An inflation rate in excess of 200 percent,lasting at least one year.
B)An inflation rate in excess of 20 percent,lasting at least one year.
C)A common problem in the United States.
D)The movement of taxpayers to higher tax brackets because of rising prices.

Question

Quizplus · Accepted Answer

Hyperinflation is defined as an inflation rate in excess of 200 percent, lasting at least one year. It is not common in developed countries like the United States, but has occurred in some countries during times of economic and political instability. The movement of taxpayers to higher tax brackets because of rising prices is known as "bracket creep," but is not the same as hyperinflation.

Hyperinflation Is