Macroeconomics

posted by .

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?

  • Macroeconomics -

    The U.S. dollar was the standard currency in Israel.

  • Macroeconomics -

    ml

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. statistics

    I have 6 bills that total $63 and there are no $1 or coins?
  2. Pseudocode programming

    I need a currency conversion application. It does not have to be written in an actual programming language, just the pseudocode as well as the elements listed below. Complete requirements analysis Design Verification Validation and …
  3. economics

    If a country sells a currency dollar would the exchange rate price be the currency/dollar or dollar/currency and what will the demand be.
  4. economics

    What effects will this change have on the exchange rate of the canadian dollar in terms of the us dollar?
  5. 11th grade

    4. The use of technology such as telephones and computers means that money exchanges and other financial transactions can be a. based on the U.S. dollar all over the world. b. converted to prices in any currency. c. made instantaneously. …
  6. macroeconomics

    For each of the following situations, indicate the direction of the shift in the supply curve or the demand curve for dollars, the factor causing the change, and the resulting movement of the equilibrium exchange rate for the dollar …
  7. Business Law

    Grocery, Inc. has a written contract with Cereal, Inc. to purchase 20 cases of cereal per month at $22 per case. The contract does not state the types of cereal or how the 20 cases will be divided among Grocery, Inc.’s 20 stores …
  8. programming

    Write a php program for Currency conversion. Input Currency name, Value of Input Currency, Output Currency Name Output Currency Value. 1 dollar=50 Rupee 1 Pound= 1.5 dollar 1 Pound= 80 Rupee
  9. econ

    The terms below are measures or individual components of the money supply. Specifically considering the money supply of the United States, rank these items from largest to smallest in terms of dollar value. Currency, M2,M1,Balances …
  10. history SUE HELP MEEEE

    For many years, the only currency that oil-producing countries would accept for their oil was the United States dollar. What would happen to the value of the dollar if the demand for oil were to increase?

More Similar Questions