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i. Identify and list the macroeconomic problems in this passage ii. Outline the consequences of the said problems on macroeconomic goals iii. Suggest policy remedies to any three of the problems identified.

i. Identify and list the macroeconomic problems in this passage ii. Outline the consequences of the said problems on macroeconomic goals iii. Suggest policy remedies to any three of the problems identified.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
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Required: i. Identify and list the macroeconomic problems in this 12 passage ii. Outline the consequences of the said problems on macroeconomic goals iii. Suggest policy remedies to any three of the problems identified.
Transcribed Image Text:Required: i. Identify and list the macroeconomic problems in this 12 passage ii. Outline the consequences of the said problems on macroeconomic goals iii. Suggest policy remedies to any three of the problems identified.
2. The new 2 and 5 Zimbabwe dollar notes and coins were scheduled to start circulating on Monday but failed to appear on time, causing confusion at banks. Shortages of cash, foreign currency, fuel and power are the most visible signs of the southern African nation's worst economic crisis since 2008, when hyperinflation forced the government to ditch its currency. 3. Hundreds of people, mostly pensioners, queued for cash outside one bank in central Harare on Tuesday and were issued 150 Zimbabwe dollars ($10) of the new 2-dollar bills and coins. They were told to return on Thursday if they wanted more. "I managed to withdraw 150 dollars but it is not enough to buy anything. The banks should do something about the limit, maybe increase it to 1,000," John Kamuzunga, a 72- year-old pensioner, told Reuters after collecting his cash. 4. The central bank has maintained per-customer withdrawal limits at 300 Zimbabwe dollars a week, half the amount a farmer needs to buy a bag of fertiliser amid soaring inflation that economists estimate at 380%. 5. Banking executives said they received the new bills late on Monday and customers were already withdrawing the money. Central bank governor
Transcribed Image Text:2. The new 2 and 5 Zimbabwe dollar notes and coins were scheduled to start circulating on Monday but failed to appear on time, causing confusion at banks. Shortages of cash, foreign currency, fuel and power are the most visible signs of the southern African nation's worst economic crisis since 2008, when hyperinflation forced the government to ditch its currency. 3. Hundreds of people, mostly pensioners, queued for cash outside one bank in central Harare on Tuesday and were issued 150 Zimbabwe dollars ($10) of the new 2-dollar bills and coins. They were told to return on Thursday if they wanted more. "I managed to withdraw 150 dollars but it is not enough to buy anything. The banks should do something about the limit, maybe increase it to 1,000," John Kamuzunga, a 72- year-old pensioner, told Reuters after collecting his cash. 4. The central bank has maintained per-customer withdrawal limits at 300 Zimbabwe dollars a week, half the amount a farmer needs to buy a bag of fertiliser amid soaring inflation that economists estimate at 380%. 5. Banking executives said they received the new bills late on Monday and customers were already withdrawing the money. Central bank governor
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