2. The price of natural gas has been zooming up from $4 per MMBTU on December 31, 2021 to $8 on April 30, 2022. What was the average effective rate of inflation per day over those 120 days? Hint: Your answer when compounded by 120 days should double the price. The nearest answer is: a. 0.5% b. 0.6% c. 0.7% d. 0.8% e. 0.9%

2. The price of natural gas has been zooming up from $4 per MMBTU on December 31, 2021 to $8 on April 30, 2022. What was the average effective rate of inflation per day over those 120 days? Hint: Your answer when compounded by 120 days should double the price. The nearest answer is: a. 0.5% b. 0.6% c. 0.7% d. 0.8% e. 0.9%

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 37P: Rosalie the Retiree knows that when she retires in 16 years, her company will give her a one-time...

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D8
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