Since Last Year, the Price of Gold Has Risen from $1100

question 37

Multiple Choice

Since last year, the price of gold has risen from $1100 to $1420. What annual inflation rate would leave the real price of gold unchanged over the last twelve months?

• A) Approximately 29%
• B) 40%
• C) Approximately 71%
• D) 320%
• E) none of the above

---

Definitions:

Oxygen

A reactive, life-sustaining component of the atmosphere, essential for cellular respiration in aerobic organisms and critical for combustion processes.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is absorbed by plants in photosynthesis.

Wavelength

The distance between successive crests of a wave, often used to describe the spectrum of electromagnetic radiation.

Visible Light

The portion of the electromagnetic spectrum that is visible to the human eye, ranging approximately from 390 to 700 nanometers wavelength.