Questions: On April 1, the price of gas at Bob's Corner Station was 4.95 per gallon. On May 1, the price was 5.45 per gallon. On June 1, it was back down to 4.95 per gallon. Between April 1 and May 1, Bob's price increased by . Between May 1 and June 1, Bob's price decreased by , or . Suppose that at a gas station across the street, prices are always 20% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is when gas costs 5.45 than when gas costs 4.95. Some economists blame high commodity prices (including the price of gas) on interest rates being too low. Suppose the Fed raises the target for the federal funds rate from 2% to 2.75%. This change of percentage points means that the Fed raised its target by approximately .

Transcript text: On April 1, the price of gas at Bob's Corner Station was $\$ 4.95$ per gallon. On May 1 , the price was $\$ 5.45$ per gallon. On June 1 , it was back down to $\$ 4.95$ per gallon. Between April 1 and May 1, Bob's price increased by $\qquad$ $\qquad$ . Between May 1 and June 1, Bob's price decreased by $\qquad$ , or $\qquad$ . Suppose that at a gas station across the street, prices are always 20\% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is $\qquad$ when gas costs $\$ 5.45$ than when gas costs $\$ 4.95$. Some economists blame high commodity prices (including the price of gas) on interest rates being too low. Suppose the Fed raises the target for the federal funds rate from $2 \%$ to $2.75 \%$. This change of $\qquad$ percentage points means that the Fed raised its target by approximately $\qquad$ .