The Table Below Shows the Price Index in the Economy

question 26

Essay

The table below shows the price index in the economy at the end of four different years. (a) What is the rate of inflation in years 2, 3, and 4?
(b) Using the "rule of 70," determine how many years would it take for the prices to double at each of these three inflation rates?

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Definitions:

Axon

The long extension of the neuron that transmits nerve impulses away from the cell body. Compare with dendrite.

Dendrite

A branched extension of a neuron that receives stimuli and conducts impulses toward the cell body.

Myelin Sheath

The fatty layer that surrounds and insulates the axons of some neurons, which enables faster transmission of electrical impulses.

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another neuron, muscle cell, or gland cell.