Question: Chapter 4-Inflation 1) The MAA (15 points, 5 points per part) Annual dues for the Mathematical Association of America were S3 in 1916. In 2

Chapter 4-Inflation 1) The MAA (15 points, 5 points per part) Annual dues for the Mathematical Association of America were S3 in 1916. In 2 17 they were #17 a) Based on the inflation rate, how much would the $3 dues in 1916 be in 2017 dollars? 5, Round to the nearest dollar. (Hint: The answer isn't $175) b) In 2017 dollars (your answer to part a), what was the absolute change for the dues? In 2017 dollars (your answer to part a), what was the relative term change for the dues? Round to the nearest percent c) Chapter 4-Inflation 1) The MAA (15 points, 5 points per part) Annual dues for the Mathematical Association of America were S3 in 1916. In 2 17 they were #17 a) Based on the inflation rate, how much would the $3 dues in 1916 be in 2017 dollars? 5, Round to the nearest dollar. (Hint: The answer isn't $175) b) In 2017 dollars (your answer to part a), what was the absolute change for the dues? In 2017 dollars (your answer to part a), what was the relative term change for the dues? Round to the nearest percent c)

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