Refer to the World View below: WORLD VIEW Zimbabwe's Trillion-Dollar Currency Imagine the price of coffee doubling every day. Or the price of a textbook soaring from $100 to $12,800 in a single week! Sounds unbelievable. But that was the day-to-day reality in Zimbabwe in 2008-2009, when the inflation rate reached an astronomical 231 million percent. The Zimbabwean currency lost so much value that people needed a sackful to buy a loaf of bread. To facilitate commerce, the Zimbabwe central bank printed the world's first $100 trillion banknote. Within a week, that $100 trillion note was worth about 33 U.S. dollars-enough to buy six loaves of bread. Source: News reports, January 2009. Instructions: Round your responses to two decimal places. What was the price of a loaf of bread in Zimbabwe, measured in a. U.S. dollars? $ b. Zimbabwe dollars? $ trillion
Refer to the World View below: WORLD VIEW Zimbabwe's Trillion-Dollar Currency Imagine the price of coffee doubling every day. Or the price of a textbook soaring from $100 to $12,800 in a single week! Sounds unbelievable. But that was the day-to-day reality in Zimbabwe in 2008-2009, when the inflation rate reached an astronomical 231 million percent. The Zimbabwean currency lost so much value that people needed a sackful to buy a loaf of bread. To facilitate commerce, the Zimbabwe central bank printed the world's first $100 trillion banknote. Within a week, that $100 trillion note was worth about 33 U.S. dollars-enough to buy six loaves of bread. Source: News reports, January 2009. Instructions: Round your responses to two decimal places. What was the price of a loaf of bread in Zimbabwe, measured in a. U.S. dollars? $ b. Zimbabwe dollars? $ trillion
Chapter13: Inflation
Section: Chapter Questions
Problem 7SQP
Related questions
Question
![Refer to the World View below:
WORLD VIEW
Zimbabwe's Trillion-Dollar Currency
Imagine the price of coffee doubling every day. Or the price of a textbook soaring
from $100 to $12,800 in a single week! Sounds unbelievable. But that was the
day-to-day reality in Zimbabwe in 2008-2009, when the inflation rate reached an
astronomical 231 million percent.
The Zimbabwean currency lost so much value that people needed a sackful to
buy a loaf of bread. To facilitate commerce, the Zimbabwe central bank printed
the world's first $100 trillion banknote. Within a week, that $100 trillion note was
worth about 33 U.S. dollars-enough to buy six loaves of bread.
Source: News reports, January 2009.
Instructions: Round your responses to two decimal places.
What was the price of a loaf of bread in Zimbabwe, measured in
a. U.S. dollars?
b. Zimbabwe dollars?
A
trillion](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0e119b14-0f8f-4485-95e5-7c2366bd3130%2F1fe5bd88-96cd-41c0-bc35-4f91d0e6de5f%2Fp5nx5jp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Refer to the World View below:
WORLD VIEW
Zimbabwe's Trillion-Dollar Currency
Imagine the price of coffee doubling every day. Or the price of a textbook soaring
from $100 to $12,800 in a single week! Sounds unbelievable. But that was the
day-to-day reality in Zimbabwe in 2008-2009, when the inflation rate reached an
astronomical 231 million percent.
The Zimbabwean currency lost so much value that people needed a sackful to
buy a loaf of bread. To facilitate commerce, the Zimbabwe central bank printed
the world's first $100 trillion banknote. Within a week, that $100 trillion note was
worth about 33 U.S. dollars-enough to buy six loaves of bread.
Source: News reports, January 2009.
Instructions: Round your responses to two decimal places.
What was the price of a loaf of bread in Zimbabwe, measured in
a. U.S. dollars?
b. Zimbabwe dollars?
A
trillion
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