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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