The International Monetary Fund’s estimate for inflation in Venezuela in 2019 is 10 million percent (that is really 10,000,000%) – clearly a good example of hyperinflation. What problems does this cause at a microeconomic level (focus on individual households/businesses)? What problems does this cause at a macroeconomic level (focus on economy-wide issues)?

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Hyperinflation in Venezuela has devastating effects at both microeconomic and macroeconomic levels A... View the full answer