According to the table below, Asset Stocks Diamonds oil Housing U.S. farmland Average price level Silver Bonds Stamps Gold Change in Value (%), 1991-2001 +250% +71 +66 +56 +49 +32 +22 +20 -9 -29 Instructions: Enter your responses as a percentage rounded to the nearest whole number. What happened during the period shown to the a. nominal price of gold? The nominal price (Click to select) by b. real price of gold? The real price (Click to select) by percent. percent.
According to the table below, Asset Stocks Diamonds oil Housing U.S. farmland Average price level Silver Bonds Stamps Gold Change in Value (%), 1991-2001 +250% +71 +66 +56 +49 +32 +22 +20 -9 -29 Instructions: Enter your responses as a percentage rounded to the nearest whole number. What happened during the period shown to the a. nominal price of gold? The nominal price (Click to select) by b. real price of gold? The real price (Click to select) by percent. percent.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:**Asset Change in Value (%), 1991–2001**
- **Stocks:** +250%
- **Diamonds:** +71%
- **Oil:** +66%
- **Housing:** +56%
- **U.S. farmland:** +49%
- **Average price level:** +32%
- **Silver:** +22%
- **Bonds:** +20%
- **Stamps:** \-9%
- **Gold:** \-29%
**Instructions:** Enter your responses as a percentage rounded to the nearest whole number.
**What happened during the period shown to the:**
a. **Nominal price of gold?**
The nominal price (Click to select) by ______ percent.
b. **Real price of gold?**
The real price (Click to select) by ______ percent.
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