Nominal personal consumption expenditures in the United States were $1760.4 billion in 1980 and rose to $3839.3 billion in 1990. The price index for personal consumption expenditures was 58.5 for 1980 and 92.9 for 1990, where 1992 was the base year. Calculate the percent change in real personal consumption expenditures (rounded to the nearest percentage point) in the decade.
a. 118%
b. 59%
c. 37%
d. 137%
Answer: C
FIN 201
- Whether real seignorage revenue increases when the rate of money growth increases depends on whether
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