Rate of inflation
If the price index was 110 last year and is 121 this year, Calculate this year’s rate of inflation? Determine the “rule of 70”? How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 % per year?
Expert
This year’s rate of inflation is 10% or [(121 – 110)/110] ´ 100.
Dividing 70 by the annual percentage rate of rise of any variable (for example, the rate of inflation or population growth) will give the approximate number of years for doubling of the variable.
What did the Emergency Banking Act do?
Following equations denote market for widgets Demand: P = 10 - Q Supply: P = Q - 4 Here P mentions the price in dollars per unit and Q mention the quantity in thousands of units. A
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1. Assume the following (all rates are stated annually with semiannual compounding):
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