The nominal price of a Subaru Outback changed by ______ percent between 2019 and 2024.

Round your answer to the tenth of a percent.

Question

The nominal price of a Subaru Outback changed by ______ percent between 2019 and 2024.

Round your answer to the tenth of a percent.

BlackTom AI · Accepted Answer

The question asks for the nominal price change between 2019 and 2024 expressed as a percent, rounded to the tenth of a percent.

First, since there are no answer options provided, there is no option-by-option analysis to perform. Instead, here is the general method you would use to determine the percent change.

- Step 1: Identify the prices for the two years: P2019 (the price in 2019) and P2024 (the price in 2024).
- Step 2: Compute the percent change using the standard formula: Percent Change = [(P2024 − P2019) / P2019] × 100%
- Step 3: Round the result to one decimal place (the tenth of a percent) as required.

If the provided answer is 4.7%, that would imply that P2024 = P2019 × 1.047. In other words, the price in 2024 is 4.7% higher than the price in 2019.

- Step 4: To verify or reproduce the result, you could plug in actual price values: let P2019 = P; then P2024 should equal 1.047 × P. Compute the difference P2024 − P2019 = 0.047 × P, divide by P, and multiply by 100 to get 4.7%, then round if needed.

- Potential pitfalls: avoid mixing up the order (P2024 − P2019 vs P2019 − P2024), ensure you divide by the initial price P2019, and apply proper rounding to the nearest tenth. If the problem uses nominal prices that might be given in different currencies or units, ensure consistency before applying the formula.

In summary, with two price values, you would apply the percent-change formula, and a result of 4.7% corresponds to a final price that is 4.7% higher than the 2019 price, rounded to one decimal place.

FA25 ECON 302 002 Homework #6 (Inflation)

The nominal price of a Subaru Outback changed by ______ percent between 2019 and 2024. Round your answer to the tenth of a percent.

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