Question

Inflation rates in Africa for 2007 covered a wide range. They run from -8.8% in Chad to 10,453% in Zimbabwe. This means: What cost $1 U.S. in Zimbabwe a year ago now costs $10,453 U.S. Cash payments in the local currency in Chad must be spent immediately to be of any value The standard of living in rose in Chad in 2007 Workers in Zimbabwe would prefer to be paid in U.S. dollars (or any other currency) rather than in their own currency