Statement I: The classic case of hyperinflation took place in Germany after World War I.
Statement II: Because inflation is a relative term,what may be considered creeping inflation in one country would be hyperinflation in another.

Question

Quizplus · Accepted Answer

Statement I is true, as Germany after World War I experienced hyperinflation with prices increasing by over 20% per day at its peak. Statement II is also true, as inflation is measured relative to a benchmark or comparison point, and what may be considered high inflation in one country may be considered hyperinflation in another with a different historical or current inflation rate.

Statement I: the Classic Case of Hyperinflation Took Place in Germany