Question

Current Economic Events: Read and think about current economic events in periodicals such as the Economist, Oregonian and Wall Street Journal. Describe a current event connected to the course material for the week (content topics can be found listed at the beginning and in the summary at the end of each textbook chapter) from a Include a direct quote from the textbook and describe the connection to this week's course content, and the in-text citation (Authors, year, p. #). Include the textbook page reference (p, #) Include the Article Citation (Author, Date, Title, Publisher, Location/web address) and the textbook content page reference.

Answer 1

Hyperinflation

The Current economic crisis in Venezuelan markets has seen lot of eyeballs becaus eof dire impacts of Hyperinflation has seriously affected nation coupled with shortage of food and power cuts forcing people to move out from nation. Currency has been devalued at 6million to dollar almost 95%. The situation truly relates to textbook definition of hyperinflation, "hyperinflation reduces an economy efficiency by driving people away from monetary transactions and toward barter.  

The biggest cause of the situation was due to growth undercut by government which also caused supply to reduce and was adverse which further raised prices so high to afford.

To avert situations foreign debt repayment has been refinanced and some have been stopped. Infact new cryptocurrency like Bitcoin has been made official to curb the hyperinflation. However the impact on economic crisis is yet to be seen.

Written by

Kejal vyas and Ryan dube

August 19,2018

Wall Street Journal