How long would it take for the price level to double if inflation persisted at the following percentages? Instructions: Enter your answers as a whole number. a. 2 percent per year: years b. 5 percent per year: years c. 10 percent per year: years

How long would it take for the price level to double if inflation persisted at the following percentages? Instructions: Enter your answers as a whole number. a. 2 percent per year: years b. 5 percent per year: years c. 10 percent per year: years

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 22CTQ: Inflation rates, like most statistics, are imperfect measures. Can you identify some ways that the...

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Question

How long would it take for the price level to double if inflation persisted at the following percentages?

Instructions: Enter your answers as a whole number.

a. 2 percent per year: years

b. 5 percent per year: years

c. 10 percent per year: years

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