Calculate the annualized inflation rate of the price of meat over the periods: (a) May-July 1923, (b) July-September 1923, (c) October 1923,(d) November 1923.
(ii) Once per how many days did prices approximately double in Germany during this period?
May 1923: 500,000 Mark bought you 40 lbs of meat
July 1923: 10,000,000 Mark bought you 12 lbs of meat
September 1923: 10,000,000 Mark bought you 0.5 lbs of meat
October 1923: 1,000,000,000 Mark bought you 0.75 lbs of meat
November 1923: 100,000,000,000 Mark bought you 3 lbs of meat
Note: part (ii) of this question requires you to use the exponential and logarithmic functions to solve it.