Required information If the inflation rate is 5% per year, how many years will it take for the cost of an item to double, if the price increases only by the inflation rate? In the answer using an equation. umber of years it will take for the cost of an item to double is [

Required information If the inflation rate is 5% per year, how many years will it take for the cost of an item to double, if the price increases only by the inflation rate? In the answer using an equation. umber of years it will take for the cost of an item to double is [

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 7E

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Required information
If the inflation rate is 5% per year, how many years will it take for the cost of an item to double, if the price increases only
by the inflation rate?
Obtain the answer using an equation.
The number of years it will take for the cost of an item to double is

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