ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which country’s inflation rate is expected to exceed 1, 000, 000% this year?
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Australia
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Venezuela
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Indonesia
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China
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Explanation:
Detailed explanation-1: -In the long-term, the Venezuela Inflation Rate is projected to trend around 40.00 percent in 2023 and 150.00 percent in 2024, according to our econometric models.
Detailed explanation-2: -Argentina and Turkey are currently experiencing the highest inflation rates in the G20. In January 2023, Turkey’s rate was 57.7%.
Detailed explanation-3: -Venezuela’s high inflation levels are due to the sum total effect of relying too heavily on imports for basic goods, depending on oil as its main export, inefficient government industries, and governmental corruption.
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