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July 18, 2025 

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HYPERINFLATION: Exceptionally high inflation rates. While there are no hard and fast guidelines, an annual inflation rate of 20 percent or more is likely to get you the hyperinflation title. Some countries in the past have been quite good at creating hyperinflation. An annual inflation rate of 1,000 percent has not been uncommon. On occasion, the trillion percent inflation rate mark has been achieved. (That is, something with a one dollar price tag in early January would have a one trillion dollar price in late December. We're talking serious hyperinflation.)

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CURRENT GDP: The total market value, measured in current prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that current gross domestic product is measured in current, or actual prices; the prices buyers actually pay for goods and services purchased. Current gross domestic product is also termed nominal gross domestic product.

     See also | gross domestic product | inflation | price level | GDP price deflator | nominal | real | current gross domestic product | constant gross domestic product | nominal gross domestic product |


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MANAGED FLEXIBLE EXCHANGE RATE

An exchange rate control policy in which an exchange rate that is generally allowed to adjust to equilibrium levels through to the interaction of supply and demand in the foreign exchange market, but with occasional intervention by government. Also termed managed float or dirty float, most nations of the world currently use a managed flexible exchange rate policy. With this alternative an exchange rate is free to rise and fall, but it is subject to government control if it moves too high or too low. With managed float, the government steps into the foreign exchange market and buys or sells whatever currency is necessary keep the exchange rate within desired limits. This is one of three basic exchange rate policies used by domestic governments. The other two policies are flexible exchange rate and fixed exchange rate.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for rusty deck screws.
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In the early 1900s around 300 automobile companies operated in the United States.
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