Brief Principles of Macroeconomics...
Brief Principles of Macroeconomics...
Hyperinflations occur when the government runs a large budget _________, which the central bank finances with a substantial monetary___________.
a. deficit, contraction
b. deficit, expansion
c. surplus, contraction
d. surplus, expansion
Cause of hyperinflation.
Option (b):
Almost all hyperinflations follow the same pattern where the government has a high level of spending and inadequate tax revenue to pay for its spending. As a result, the government turns to printing money to pay for its spending. Thus, hyperinflation occurs when it has a large budget deficit and central bank finances through monetary expansions. Thus, option ‘b’ is correct.
Option (a):
To pay for spending of the government, the central government finances through monetary expansion such as printing money...
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