Between 1967 and 1977 the Price Level Approximately Doubled

question 83

Multiple Choice

Between 1967 and 1977 the price level approximately doubled.On the basis of this information we can say that the average annual rate of inflation over this ten-year period was about:

• A)10 percent.
• B)7 percent.
• C)4 percent.
• D)2 percent.

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