As Applied to the Price Level, the "Rule of 70

question 7

Multiple Choice

As applied to the price level, the "rule of 70" indicates that the number of years required for the price to double can be found by:

• A)dividing "70" into the annual rate of inflation.
• B)dividing the annual rate of inflation into "70."
• C)subtracting the annual change in nominal incomes from "70."
• D)multiplying the annual rate of inflation by "70."

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Definitions:

Mesopelagic Zone

A layer of the ocean between 200 and 1,000 meters deep, characterized by dim light, also referred to as the twilight zone, and known for its unique marine life adaptations.

Coral Polyps

Small, soft-bodied organisms that are the primary builders of coral reefs, living in large colonies where they secrete calcium carbonate to form the reef's structure.

Zooxanthellae

Microscopic algae that live symbiotically within the cells of coral and other marine organisms, providing them with nutrients through photosynthesis.

Shoreline

Denotes the edge or boundary where a body of water meets the land, often affected by natural phenomena like tides and erosion as well as human activities.