Multiple Choice
Assume the price of salt increased from $0.30 in 1985 to $0.50 in 1995.If we calculate the average rate of price increase for salt over this period,we could accurately say:
A) the price of salt increased at about a 40% rate per year during this period.
B) the price of salt increased at about a 20% rate per year during this period.
C) the price of salt increased by about 20% total during this period.
D) the price of salt increased at about a 5% rate per year during this period.
E) the real price of salt definitely increased during the period.
Correct Answer:
Verified
Correct Answer:
Verified
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