Between 1970 and 1976, Israel's Average Inflation Rate Was About

question 105

Multiple Choice

Between 1970 and 1976, Israel's average inflation rate was about 65 percent per year. With that rate of inflation, prices would double about every ________ using the rule of 70.

• A) 93 years
• B) 107.7 years
• C) 0.95 years
• D) 1.1 years
• E) 9.3 years

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Definitions:

International Trade

The exchange of goods, services, and capital between countries, driven by comparative advantages and leading to increased economic efficiency.

Foreign Currencies

These are the currencies of other countries, traded in foreign exchange markets and used in international transactions.

Foreign Currencies

The currencies used in countries other than one's own, involved in international trade and investment.

U.S. Imports

refer to goods and services purchased from other countries by the United States, contributing to its economy's supply side.