Hyperinflation Is Defined as

question 36

Multiple Choice

Hyperinflation is defined as

• A)declining inflation rates.
• B)rising but low inflation rates.
• C)very high inflation rates.
• D)very low inflation rates.
• E)an increase in the price level.

Differentiate between the concepts of efficiency loss of a tax and tax revenue.

Comprehend the regressive nature of sales taxes on consumer goods.

Analyze the progressive and regressive characteristics of different tax systems.

Understand the impact of supply elasticity on the tax burden borne by producers.