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."
Correct Answer:
Verified
Correct Answer:
Verified
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