Question
The nominal price (per gallon) of gas for each year is shown in the timeline below. What is the real price of gas in year
The nominal price (per gallon) of gas for each year is shown in the timeline below.
What is the real price of gas in year 2019 (as seen from year 2017).
Calculate your answer to the nearest penny (e.g., 3.81)
| Year | 2017 | 2018 | 2019 | 2020 |
| Nominal Price | $2.33 | $2.41 | $2.44 | $2.47 |
| Price Level | 120 | 127 | 135 | 138 |
| Price Adjustment | ||||
| Real Price |
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Modern Financial Markets Prices, Yields, And Risk Analysis
Authors: Mark Griffiths, Drew Winters, David W Blackwell
1st Edition
0470000104, 9780470000106
