Over the past 70 years, what was the approximate average annual inflation rate?
A) 3 percent, implying that prices have increased 12-fold
B) 4 percent, implying that prices have increased 16-fold
C) 4 percent, implying that prices have increased 18-fold
D) 5 percent, implying that prices increased about 18-fold

Question

Quizplus · Accepted Answer

The average annual inflation rate over the past 70 years has been approximately 4 percent, which would result in prices increasing about 16-fold.

Over the Past 70 Years, What Was the Approximate Average