Examlex
Which of the following describes a situation in which the person is hurt by inflation?
Hyperinflation
An extremely high rate of inflation, usually defined as an inflation rate in excess of 50 percent per month.
Nationalization
The process by which a government takes control of a private industry, business, or assets and converts it into state ownership and operation.
Government Price Controls
Measures implemented by a government to regulate the price levels of commodities and services with the aim to maintain affordability, prevent inflation, or ensure a minimum income for producers.
Corruption
The misuse of government power, with which one has been entrusted or assigned, to obtain private gain; includes payments from individuals or companies to secure advantages in obtaining government contracts, avoiding government regulations, or obtaining inside knowledge about forthcoming policy changes.
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