CIVILIZATION
ROMAN
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Merchants bartered their goods.
|
|
|
The value of money declined and prices rose steeply.
|
|
|
The poor in the empire’s cities were hungry.
|
|
|
The Romans brought peace to their empire.
|
Detailed explanation-1: -Although there is no definitive number, economists and historians believe that Rome’s inflation rate reached an all-time high of 15, 000% between AD 200 and 300.
Detailed explanation-2: -Description: Inflation occurs due to an imbalance between demand and supply of money, changes in production and distribution cost or increase in taxes on products. When economy experiences inflation, i.e. when the price level of goods and services rises, the value of currency reduces.
Detailed explanation-3: -High inflation and low inflation Inflation is measured as a percentage: If the inflation rate is 1% (lower inflation), the purchasing power of money will be 1% less a year later. If the inflation rate is 5% (higher inflation), the purchasing power of money will be 5% less a year later.