In Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day. At that rate, how t would a $14 wool blanket cost five days later? Hint Use the following equation to calculate future price: Future price (current price) pnflation rate), where ris the number of days in the future Instructions: Round your response to one decimal place.

In Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day. At that rate, how t would a $14 wool blanket cost five days later? Hint Use the following equation to calculate future price: Future price (current price) pnflation rate), where ris the number of days in the future Instructions: Round your response to one decimal place.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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