According to the table below, Asset Stocks Diamonds Oll 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 num 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.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter17: Financial Markets
Section: Chapter Questions
Problem 5SCQ: Investors sometimes fear that a high-risk investment is especially likely to have low returns. Is...
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**According to the table below,**

| 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 \[Increased/Decreased\]] by [______] percent
b. real price of gold?
   - The real price [Click to select \[Increased/Decreased\]] by [______] percent
Transcribed Image Text:**According to the table below,** | 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 \[Increased/Decreased\]] by [______] percent b. real price of gold? - The real price [Click to select \[Increased/Decreased\]] by [______] percent
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