2. The following table gives data for Austria from May 1922 to January 1923. The price index was equal to 1 in January 1921, whereas the money supply was in billions of Crowns. 1922 May June July Aug. Sept. Oct. Nov. Dec. Jan. Price Index 20.3 34.2 48.3 110.5 200.9 185.7 176.8 174.1 175.3 Money Supply 398 550 786 1353 2278 2971 3418 4080 4111 a). What is the economic phenomenon observed during May-September 1922? Support your answer with the given data.

ENGR.ECONOMIC ANALYSIS
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2. The following table gives data for Austria from May 1922 to January 1923. The price index was
equal to 1 in January 1921, whereas the money supply was in billions of Crowns.
1922
May June
July
Aug. Sept. Oct.
Nov.
Dec.
Jan.
Price Index
20.3
34.2
48.3
110.5 200.9 185.7 176.8 174.1 175.3
Money Supply
398
550
786
1353
2278
2971
3418
4080
4111
a). What is the economic phenomenon observed during May-September 1922? Support your answer
with the given data.
-1-
Transcribed Image Text:2. The following table gives data for Austria from May 1922 to January 1923. The price index was equal to 1 in January 1921, whereas the money supply was in billions of Crowns. 1922 May June July Aug. Sept. Oct. Nov. Dec. Jan. Price Index 20.3 34.2 48.3 110.5 200.9 185.7 176.8 174.1 175.3 Money Supply 398 550 786 1353 2278 2971 3418 4080 4111 a). What is the economic phenomenon observed during May-September 1922? Support your answer with the given data. -1-
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