The annual inflation rate

Assignment Help Business Economics

Reference no: EM13833995

Suppose that Gus's Tattoo Studio in Athens, GA is holding $11,000 in money. The annual inflation rate is steady at 10 percent, and the price level has risen from 1.0 to 1.1. How much did Gus's lose to inflation tax at the end of the year?

$1,100

$10,000

$100

$1,000

Reference no: EM13833995

Questions Cloud

Types of legal ownership for businesses in the united states : There are four main types of legal ownership for businesses in the United States. These are sole proprietorship, general partnership, limited liability company (LLC), and corporation

Write an essay about open disclosure in health care setting : Write an essay about the open disclosure in health care setting , especially Nursing, the topic is related to law subject, professional codes and guidelines.

Express your answer in hours and minutes : Jill has a swimming pool in her backyard. It is shaped like a rectangle and measures approximately 16.3 feet wide and 26.2 feet long. It is an average of 5 feet deep. During a few hot weeks during the summer, some water evaporates from the pool, and ..

Characteristic of equal potential GDP and real GDP : Which of the following is NOT a characteristic of equal potential GDP and real GDP?

The annual inflation rate : Suppose that Gus's Tattoo Studio in Athens, GA is holding $11,000 in money. The annual inflation rate is steady at 10 percent, and the price level has risen from 1.0 to 1.1. How much did Gus's lose to inflation tax at the end of the year?

Fable on the conversation between the bear and the horse : Write a fable on the conversation between the bear and the horse.The conversation between two animals of your own choosing.Each should followed by a sentence that tells us the moral of your story.Each should have dialogue between the two animals and ..

Impact how a company calculates the value of a customer : From an economic standpoint are some customers worth more to a company than other customers. What factors impact how a company calculates the value of a customer?

What is the price elasticity of demand for gizmos : Where, q is the quantity demanded at price p when the person’s income is I. Assume initially that the person’s income is $40,000. Show your work/ calculations. At what price will demand fall to zero? At a price of $10, what is the price elasticity of..

How much for each pair of slacks and each sports coat : Alex took clothes to the cleaners three times last month. First, he brought 4 shirts and 1 pair of slacks and paid $14.45. Then he brought 6 shirts, 4 pairs of slacks, and 1 sports coat and paid $40.39. Finally, he brought 3 shirts and 1 sports coat ..

User Account

All Pages