1. After studying this chapter, explain why you think Venezuela is experiencing hyperinflation? (1,000,000% -- that's absurd!) Where did the country go wrong in terms of the source of hyperinflation? If you were a policy maker, what would you recommend they do to tame hyperinflation? Can your suggestion(s) be easily implemented? Identify at least two obstacles you would face in implementing the policy. 2. Describe some of the long-run economic impacts you expect from this enormous exodus of Venezuelans from their home country. . Some ideas: Think about the impact on Venezuela itself, on Colombia, on other nations near and far. Think about who (in terms of skill, education, wealth, etc) is likely to end up in a neighboring country versus in a country further away. What are some of the impacts on a country's ability to produce? Growth rates? Benefits to receiving nations? Resource strain? Intergenerational effects? Feel free to discuss any economic impacts you think are relevant. Think of both benefits and costs, never forgetting that fundamentally these are factor flows (i.e., labor going form one place to another) with host countries taking in citizens with the potential to pay taxes