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Refer to Figure 1. Venezuela's Inflation Rate. Once deemed as a wealthy country in the 1980s, Venezuela's economy went downward when oil price took its

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Refer to Figure 1. Venezuela's Inflation Rate. Once deemed as a wealthy country in the 1980s, Venezuela's economy went downward when oil price took its plunged in mid 80 s. Many steps have been taken by the country's central bank including increasing the money supply, however only causing the country to get worsen and currently experiencing hyperinflation. What when wrong and how do you think other countries' Central Bank could learn from Venezuela to ensure their country's economy stability? Apply the knowledge you have learnt in this subject

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