Asked by Christopher Robin on Jul 27, 2024
Verified
U.S. prices rose at an average annual rate of about 3.6 percent over the last 80 years.
Average Annual Rate
Typically refers to the mean percentage rate at which a value (e.g., investment or population) grows annually.
U.S. Prices
A general term referring to the level of prices or cost of living in the United States, often assessed through indicators like the Consumer Price Index.
- Expound on the theories of inflation and deflation, and the methodologies employed in their measurements.
Verified Answer
EW
Emma WilkersonJul 29, 2024
Final Answer :
True
Explanation :
Historically, the average annual inflation rate in the United States, measured by the Consumer Price Index (CPI), has hovered around 3% to 4% for much of the 20th and early 21st centuries, making the statement about a 3.6 percent average annual rate over the last 80 years plausible.
Learning Objectives
- Expound on the theories of inflation and deflation, and the methodologies employed in their measurements.