Venezuelan inflation predicted to hit 1 million percent


The article reports the very high Inflation(HyperInflation) figures in Venezuela. The economic problems in Venezuela are mostly a result of the policy decisions for curtailing Imports leading to Increase in prices and in addition to that direction taken by the Venezuelan Central Bank to Print more money contributing further to inflation.


Topics covered are , Inflation, Cost Push and Demand Pull Inflation , Causes and consequences of HyperInflation , Expansionary Monetary policy and its consequences. Explain using the National output diagrams and discuss the combined effect of Expansionary Monetary policy on Inflation, Economic Growth and unemployment.


Evaluation will include effectiveness of Monetary policy to tackle Inflation and its further effects on Unemployment, Economic Growth , impact on the consumers, producers and society in short term and long term.