[Answer] 80. The economy has an annual inflation rate of 3.5%. It will take approximately how many years for the price level to double?

Answer: B. 20 years
80. The economy has an annual inflation rate of 3.5%. It will take approximately how many years for the price level to double?

Tue May 16 2006 14:30:00 GMT-0400 (Eastern Daylight Time) · Inflation which had averaged 3.2% annually since World War II had more than doubled after the 1973 oil shock to a 7.7% annual rate . Inflation reached 9.1% in 1975 the highest rate since 1947. Inflation declined to 5.8% the following year but then edged higher. By 1979 inflation reached a startling 11.3% and in 1980 it soared to 13.5%.

Sun Feb 18 2001 13:30:00 GMT-0500 (Eastern Standard Time) · The formula for calculating the annual percentage rate inflation in the CPI over the course of the year is: (−) × % = % The resulting inflation rate for the CPI in this one-year period is 4.28% meaning the general level of prices for typical U.S. consumers rose by approximately …

Inflation – Wikipedia

Inflation – Wikipedia

Inflation – Wikipedia

Deflation – Wikipedia

The U.S. economy grew by an average of 3.8% from 1946 to 1973 while real median household income surged 74% (or 2.1% a year). The worst recession in recent decades in terms of lost output occurred during the financial crisis of 2007–08 when GDP fell by 5.0% from the …

In economics deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate ). Inflation reduces the value of currency over time but sudden deflation increases it. This allows more goods and services to be bought than before with the same amount of currency.

The economy of Georgia is an emerging free market economy . Its gross domestic product fell sharply following the collapse of the Soviet Union but recovered in the mid-2000s growing in dou…

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