Difference in inflation experiences of massachusetts


Between 1720 and 1750, the colony of Massachusetts had an average rate of inflation of 5% per year. Over the same period of time, the colonies of New York and Virginia each had average rates of inflation of 0.4% per year. Inasmuch as all of these colonies issued notes during this time, what explains the difference in the inflation experiences of Massachusetts as compared to New York and Virginia?

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Microeconomics: Difference in inflation experiences of massachusetts
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