Hyperinflation has struck your country! Over the past year the price of a loaf of bread has increased from $2 to $65,415. What is the annual rate of inflation suggested by this increase? Put your answer in percentage form (e.g. 30.57 not 0.3057) and then round to two decimal places.

Hyperinflation has struck your country! Over the past year the price of a loaf of bread has increased from $2 to $65,415. What is the annual rate of inflation suggested by this increase? Put your answer in percentage form (e.g. 30.57 not 0.3057) and then round to two decimal places.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

am. 110.

Hyperinflation has struck your country! Over the past year the price of a loaf of bread has increased
from $2 to $65,415. What is the annual rate of inflation suggested by this increase?
Put your answer in percentage form (e.g. 30.57 not 0.3057) and then round to two decimal places.

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