15. During the Bolivian hyperinflation in the 1980s, Bolivians used U.S. dollars as a substitute for the

Question:

15. During the Bolivian hyperinflation in the 1980s, Bolivians used U.S. dollars as a substitute for the domestic currency (the peso) for many transactions.

Explain how the value of money is affected by hyperinflation and the incentives to use a low-inflation currency like the dollar as a substitute for a highinflation currency like the Bolivian peso.

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