Question

Hyperinflation is An inflation rate in excess of 200 percent, lasting at least one year. An inflation rate in excess of 20 percent, lasting at least one year. A common problem in the United States. The movement of taxpayers to higher tax brackets because of rising prices.

Answer 1

Answer: An inflation rate in excess of 200 percent, lasting at least one year

Step-by-step explanation:

While no definitive figure exists for HYPERINFLATION, it is generally believed that it is an inflation rate above 200% sustained over a year.

This means that the prices of good and services in the local currency are rising at an unprecedented rate that could force the holders of such currency to attempt to switch to another currency.

Hyperinflation can ruin savings because they make savings in the local currency significantly weaker.

Countries that have experienced this are, Germany, Hungary and not too far back, Zimbabwe.