Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Economists like to calculate the percent changes in numbers. If the price of gasoline was $3.25 a gallon last week and this week it is

Economists like to calculate the percent changes in numbers. If the price of gasoline was $3.25 a gallon last week and this week it is $3.95 a gallon, what is the percentage change in price?

Select one:

A. 82.3 percent

B. 17.7 percent

C. 33.3 percent

D. 21.5 percent

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics Principles Applications and Tools

Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez

9th edition

978-0134089027, 134089022, 978-0134420684

More Books

Students also viewed these Economics questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago