According to Bloomberg, a cup of coffee cost 450 bolivars in Venezuela less than two years ago. Now, as the nation’s hyperinflation continues to skyrocket, a cafe con leche costs 1 million bolivars — or a mere 29 U.S. cents. Questions: 1. What is the most common note in circulation in Venezuela? 2. Venezuela has… Read more »
Posts Tagged: exchange rate
Ramen Noodles are the new Prison Currency!
At some state prisons, budget cuts have led to a reduction in the caliber and total number of meals that prisoners receive, which means that the practical value of ramen noodles have skyrocketed in their value as contra ban. Questions: 1. According to the article, why don’t prisoners stock up on Ramen, since it commands… Read more »
The Great Experiment
Finland has become the latest country to propose a basic income for all. Under the plan, all Finnish citizens would receive an 800 euro stipend, per month, tax-free. Questions: 1. Based on the current exchange rate, what amount of U.S. dollars is this equal to? 2. What incentive does Finland have to implement this proposal?… Read more »