Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Chapter 33, Problem 5DQ
To determine
The effect of expectations of inflation on wages.
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Massive inflation (or, hyperinflation) distorts the economy, as workers rush to spend their cash before it becomes worthless.
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