Final answer:Hyperinflation is indeed extraordinarily rapid inflation. It often results from governments printing money to cover extensive spending, which cannot be financed by taxes or borrowing, resulting in spiraling price increases that can destabilize the economy.Explanation:The statement thathyperinflationis extraordinarily rapid inflation istrue. Hyperinflation can indeed be characterized as anoutburst of high inflation, often associated with a shift from a controlled economy to a market-oriented economy. One historical example is the hyperinflation during theWeimar Republic, where too much money led to an inflationary spiral causing wages to chase prices. This cycle impacts savings and purchasing power significantly. Hyperinflation occurs when a government needs to spend more than it can earn through taxes or borrowing, leading it to print more money. As more money chases the same or fewer goods and services, prices rise at an increasing rate, which can ultimately lead to economic and governmental collapse, as seen in Latin American countries during the 1980s and early 1990s, and certain African countries in the 1990s.Learn more about Hyperinflation here:brainly.com/question/30105745#SPJ11...

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