Econ-110 exam 3
-exam elaborations with 100% verified answer/solutions-
Excel & Succeed
138 Q&A
Robert Mugabe is:
The president of zimbabwe.
Around the year 2000, Robert mugabe needed money to bribe his
enemies and reward his political allies, but he faced all of the following
problems except:
The central bank refused to print anymore money.
Where did Robert mugabe get the money he needed for bribes and
payoffs:
He printed it.
Mugabes new money:
DIDNT increase productivity rates in Zimbabwe.
The purchasing power of the Zimbabwean dollar
Fell because there was more money chasing the same goods.
As prices in Zimbabwe began to rise:
, The gov. Had to print even more money to continue to buy just as many goods
as it did before
Which of the following summarizes the feedback loop discussed in the
video
As prices rose faster the gov. Had to print even more money which caused
prices to rise even faster.
In Zimbabwe at the height of the feedback loop
Prices were increasing by 7.6 billion percent per month.
How did the Zimbabwean hyperinflation end
Mugabe legalized transactions in foreign currencies
What causes inflation?
an increase in the money supply
In the economy supply and demand are
Always pushing some prices up and other prives down
Inflation occurs when
The average level of prices is going up
Economists measure the average level of prices with a
Price index
A price index is
The average price of a large and representative basket of goods and services
CPI stands for
consumer price index
The inflation rate is measured as
The percentage change in a price index over a period of time
-exam elaborations with 100% verified answer/solutions-
Excel & Succeed
138 Q&A
Robert Mugabe is:
The president of zimbabwe.
Around the year 2000, Robert mugabe needed money to bribe his
enemies and reward his political allies, but he faced all of the following
problems except:
The central bank refused to print anymore money.
Where did Robert mugabe get the money he needed for bribes and
payoffs:
He printed it.
Mugabes new money:
DIDNT increase productivity rates in Zimbabwe.
The purchasing power of the Zimbabwean dollar
Fell because there was more money chasing the same goods.
As prices in Zimbabwe began to rise:
, The gov. Had to print even more money to continue to buy just as many goods
as it did before
Which of the following summarizes the feedback loop discussed in the
video
As prices rose faster the gov. Had to print even more money which caused
prices to rise even faster.
In Zimbabwe at the height of the feedback loop
Prices were increasing by 7.6 billion percent per month.
How did the Zimbabwean hyperinflation end
Mugabe legalized transactions in foreign currencies
What causes inflation?
an increase in the money supply
In the economy supply and demand are
Always pushing some prices up and other prives down
Inflation occurs when
The average level of prices is going up
Economists measure the average level of prices with a
Price index
A price index is
The average price of a large and representative basket of goods and services
CPI stands for
consumer price index
The inflation rate is measured as
The percentage change in a price index over a period of time
