ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The highest recorded inflation rate in U.S. history was:
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15%
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24%
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35%
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50%
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Explanation:
Detailed explanation-1: -Inflation Rate in the United States averaged 3.29 percent from 1914 until 2023, reaching an all time high of 23.70 percent in June of 1920 and a record low of-15.80 percent in June of 1921.
Detailed explanation-2: -During the observation period from 1960 to 2021, the average inflation rate was 3.8% per year. Overall, the price increase was 829.57%. An item that cost 100 dollars in 1960 costs 929.57 dollars at the beginning of 2022. For January 2023, the year-over-year inflation rate was 6.4%.
Detailed explanation-3: -Highest monthly inflation rate: 313, 000, 000% Equivalent daily inflation rate: 64.6% Time required for prices to double: 1.41 days4. Currency: Dinar.
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