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Consider the following information relating to the 20 -year time period from 1940 to 1959 (inclusive): A representative basket of goods cost $5 at the

Consider the following information relating to the 20 -year time period from 1940 to 1959 (inclusive): A representative basket of goods cost $5 at the start of the first year and $12 by the end of the final year. Which of the following is closest to the average annual geometric inflation rate? 4.47% 2.05% 5.65% 7.00%

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