Question

Irkholm, a South American nation, experiences an economic downturn that leads to an increase in average prices across the country. The situation becomes more serious when average prices increase more than 50% per month. In the given scenario, Irkholm is experiencing _____.

Answer 1

Hyperinflation

Step-by-step explanation:

Hyperinflation is when general price levels increase by more than 50% in a month over a given period of time.

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