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

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Definitions:

Bookkeeping Practices

The systematic recording, organizing, and maintaining of financial transactions for a business or individual.

Toner Adhesion

The process by which toner powder in laser printers and copiers bonds to the paper, often involving heat and pressure to ensure the print is fixed and durable.

Printer Damage

Physical or functional harm caused to a printing device, often resulting from mishandling, mechanical failure, or external factors.

Personal Checking

A type of bank account that allows individuals to deposit, withdraw, and write checks against their balance for personal, not business, transactions.