Answer: 0.33
Explanation:
A relative price is defined as the price of a product when its compared with another product. It is the ratio of the prices of two goods. A relative price involves opportunity cost as economic agents usually choose a good at the expense of another after comparing a good with another.
Since the price of good X and Y are $90 and $30 respectively, then relative price of a unit of good Y in respect of good X
= 30/90 = 0.33
Answer:
10.48%
Explanation:
Real interest rate = (1 + nominal interest rate) / (1 + inflation rate) - 1
1.16/1.05 - 1 = 10.48
Nominal interest rate is real interest rate plus inflation rate
Real interest rate is interest rate that has been adjusted for inflation
Your data would not be considered duplicated.
What is your specific question? One thing you could do with these numbers is use data on inflation to calculate the present value of those benefits in today's money.