7. In 1972, U.S. President Richard Nixon, when campaigning for a second term in office, announced that“the rate of increase of inflation was decreasing," which has been noted as the first time a sittingpresident used the third derivative to advance his case for reelection'. Let f(t) be the value of a basket of goods typically used to compute inflation t months after September1, 1972. Then f'(t) would be the inflation, t months after September 1, 1972. Economic data showsthat the inflation in September was 6%. Using our model, we could write f'(0) = 6 We can make a mathematical model that describes the President's remark: f"(t) = 1.3 – (a) What is f"(t)? (b) Uset he limit definition of derivative to verify f'(t). (c) Describe how our model incorporates the President's remark that “the rate of increase of inflation was decreasing."

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