The table below shows the price index in the economy at the end of four different years. (a) What is the rate of inflation in years 2, 3, and 4?
(b) Using the "rule of 70," determine how many years would it take for the prices to double at each of these three inflation rates?

Question

The table below shows the price index in the economy at the end of four different years.  (a) What is the rate of inflation in years 2, 3, and 4?
(b) Using the "rule of 70," determine how many years would it take for the prices to double at each of these three inflation rates?

Quizplus · Accepted Answer

The Answer of The table below shows the price index in the economy at the end of four different years.  (a) What is the rate of inflation in years 2, 3, and 4?
(b) Using the "rule of 70," determine how many years would it take for the prices to double at each of these three inflation rates?

The Table Below Shows the Price Index in the Economy