Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
cant figure this out
![According to the table below,
Change in Value (%),
1991–2001
Asset
Stocks
+250%
Diamonds
+71
Oil
+66
Housing
+56
U.S. farmland
+49
Average price level
+32
Silver
+22
Bonds
+20
Stamps
-9
Gold
-29](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd960bb05-f8e9-458e-8dc8-ba896c5de05d%2F20616257-af23-451d-9ad4-c73579ce950f%2F8355n1l_processed.png&w=3840&q=75)
Transcribed Image Text:According to the table below,
Change in Value (%),
1991–2001
Asset
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 v (Click to select)
percent.
fell
b. real price of gold?
rose
The real price (Click to select)
|by
percent.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd960bb05-f8e9-458e-8dc8-ba896c5de05d%2F20616257-af23-451d-9ad4-c73579ce950f%2Fc0fxspl_processed.png&w=3840&q=75)
Transcribed Image Text: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 v (Click to select)
percent.
fell
b. real price of gold?
rose
The real price (Click to select)
|by
percent.
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