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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

In what sense is inflation like a tax? How does thinking about inflation as a tax help explain hyperinflation?

To determine

Inflation tax.

Explanation

Inflation is like a tax on everyone who holds money because as inflation rises purchasing power gets lower as the price level rises. In the case of hyperinflation, the government increases...

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