An agent of a real state company stated that a house he sold in 1980 for $37000 was sold by the buyer for $90000 in 1990. If the increase in price is due to inflation, determine the average rate of inflation between 1980 and 1990.

An agent of a real state company stated that a house he sold in 1980 for $37000 was sold by the buyer for $90000 in 1990. If the increase in price is due to inflation, determine the average rate of inflation between 1980 and 1990.

Name: An agent of a real state company stated that a house he sold in 1980 f
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Description: An agent of a real state company stated that a house he sold in 1980 for $37000 was sold by the buyer for $90000 in 1990. If the increase in price is due to inflation, determine the average rate of inflation between 1980 and 1990.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 20SQ

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