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Refer to the article shown below titled The Nixon Shock Heard Round the World. The graph shows the value of a dollar, or $1, at
Refer to the article shown below titled The Nixon Shock Heard Round the World. The graph shows the value of a dollar, or $1, at the end of 1970 decreased in real terms to $0.18 by the middle of 2011. Assume the inflation rate was zero from the middle of 2011 to the end of 2011 so that the purchasing power of the dollar remained at $0.18 at the end of 2011. What was the average inflation rate in the U.S. over the 41 years shown in the table? Round the answer to one one-hundredth of a percent i.e. 1 basis point. Average Inflation Rate:
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