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Economics

Calculate the annualized inflation rate of the price of meat over the periods: (a) May-July 1923, (b) July-September 1923, (c) October 1923,(d) November 1923.

(ii) Once per how many days did prices approximately double in Germany during this period?

May 1923: 500,000 Mark bought you 40 lbs of meat

July 1923: 10,000,000 Mark bought you 12 lbs of meat

September 1923: 10,000,000 Mark bought you 0.5 lbs of meat

October 1923: 1,000,000,000 Mark bought you 0.75 lbs of meat

November 1923: 100,000,000,000 Mark bought you 3 lbs of meat

Note: part (ii) of this question requires you to use the exponential and logarithmic functions to solve it.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91421770

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