During the Bolivian hyperinflation in the 1980s, Bolivians used U.S. dollars as a substitute for the domestic
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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 lowinflation currency like the dollar as a substitute for a high-inflation currency like the Bolivian peso.
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During hyperinflation the value of money erodes rapidly due to a significant and sustained increase in the general price level This decrease in the pu...View the full answer
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