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RideAnS [48]
3 years ago
5

In March 2017​, the money price of a carton of milk was ​$1.76 and the money price of a gallon of gasoline was ​$2.39. Calculate

the relative price of a gallon of gasoline in terms of milk.
Business
1 answer:
igor_vitrenko [27]3 years ago
6 0

Answer:

A gallon of gasoline cost 1.36 carton of milk

Explanation:

We should divide the given product over the base product

\frac{P_x}{P_b} In this case, gasoline is the product we want to express based on carton of milk:

2.39 gallon of gasoline / 1.76 carton of milk =  1,35795454

A gallon of gasoline cost 1.36 carton of milk

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3 years ago
Reserves decrease if the Federal Reserve?a. raises the discount rate or auctions more credit. b. raises the discount rate but no
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