(a) $0.50 or 18.18%On Sept 1, price of gas was $2.75/gallon, $3.25/gallon on Oct 1 and back down to $2.75/gallon on Nov 1.
Express (a) and (b) answers in both dollar and percentage values. (c) in percentage points and (d) in percent.
Between Sept 1 and Oct 1, price increased by _(a)__ .
Between Oct 1 and Nov 1, price decreased by __(b)__ .
On May 16 2000, the US federal reserve increased its target for the federal funds from 6.00% to 6.50%. This change of _(c)_ means that the Fed raised its target by approx _(d)_.
(b) $0.50 or 15.38%
(c) 0.25 percentage points
I'm helping my sister with her homework and I'm not sure if she expressed the percentages properly.
That is why, although the actual changes in (a) and (b) are the same, the percentage changes are different: what was "prior" is different so the while the numerators are the same the denominators are different.
The change for (c) is obviously 6.50- 6.00= 0.50 percentage points, not 0.25. What that a typo? Because (d) is correct and I don't see how you could get (d) with a wrong answer for (c)!