You observe that the inflation rate in the United States is 3.1 percent per year and that T-bills currently yield 3.7 percent annually. What do you estimate the inflation rate to be in:
- Australia, if short-term Australian government securities yield 4 percent per year?
- Canada, if short-term Canadian government securities yield 7 percent per year?
- Taiwan, if short-term Taiwanese government securities yield 9 percent per year?