Monday
April 20, 2015

Homework Help: Macroeconomics

Posted by Shane on Wednesday, October 13, 2010 at 1:16am.

Durring the late 1970's prices quoted in terms of the Israeli currency, the shekel, rose so fast that the grocery stores listed their prices in terms of the U.S. dollar and provided customers with the dollar-shekel conversion tables that they updated daily. Although people continued to buy goods and services and make loans using shekels, many Israeli citizens converted shekels to dollars to avoid a reduction in their wealth due to inflation. In what way did the U.S. dollar function as money in Israel during this period?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Business Law - Grocery, Inc. has a written contract with Cereal, Inc. to ...
11th grade - 4. The use of technology such as telephones and computers means ...
economics - If a country sells a currency dollar would the exchange rate price ...
Calc and Vectors - A professional basketball team plays in a stadium that holds ...
econ - The terms below are measures or individual components of the money supply...
Calculus - A baseball team plays in a stadium that holds 53,000 spectators. With...
Comm/215 - Q: The hurricane destroyed some oil rigs. Fuel prices rose. How do I ...
macroeconomics - For each of the following situations, indicate the direction of...
Economics - In the late 1970s, oil prices were expected to increase dramatically...
US History - What was so bad about pools in the late 1800's? I understand what ...

Members