**Question for Educational Exercise:**Determine the price of a loaf of bread in Zimbabwe, expressed in the following currencies:a. **U.S. dollars:** $ [Blank for Entry]b. **Zimbabwe dollars:** $ [Blank for Entry] trillion---**Instructions for Learners:**Please fill in the blanks with the appropriate price values for both currencies, based on the economic context during a specified period. **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.*

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What was the price of a loaf of bread in Zimbabwe, measured in a. U.S. dollars? $ o. Zimbabwe dollars? LA trillion

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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**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.*

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