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IrinaVladis [17]
3 years ago
10

The economy has an annual inflation rate of 3.5%. it will take approximately how many years for the price level to double?

Business
1 answer:
EleoNora [17]3 years ago
8 0
To find the answer you will want to follow the rule of 70. The rule of 70 allows you to find the number of years it takes a variable to double.

In this situation, you would divide 70 by 3.5% (variable) giving you 20 years.

It would take approx. 20 years for the price level to double. 
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