Recall Application 3, "Hyperinflation in Zimbabwe," to Answer the Following

Multiple Choice

Recall Application 3, "Hyperinflation in Zimbabwe," to answer the following questions:
-An 8 million percent annual increase in the price level implies that if the price of a basket of goods in June 2007 was $100, then in June 2008, the price of the same basket of goods would be:

A) $800 million.
B) $100.
C) $80,000.
D) $8 million.