Ask Question
27 August, 07:44

The economy has an annual inflation rate of 3.5%. it will take approximately how many years for the price level to double?

+3
Answers (1)
  1. 27 August, 11:00
    0
    To find the answer you will want to follow the rule of 70. The rule of 70 allows you to find the number of years it takes a variable to double.

    In this situation, you would divide 70 by 3.5% (variable) giving you 20 years.

    It would take approx. 20 years for the price level to double.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The economy has an annual inflation rate of 3.5%. it will take approximately how many years for the price level to double? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers