Question
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
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?
Group of answer choices
7.00%
2.05%
4.47%
5.65%
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Glencoe Business And Personal Finance
Authors: McGraw-Hill
1st Edition
0021400202, 9780021400201
