-In the above table, the inflation rate between 2007 and 2008 is approximately
A) 100 percent.
B) 10 percent.
C) 9 percent.
D) 110 percent.

Question

-In the above table, the inflation rate between 2007 and 2008 is approximately
A) 100 percent. 
B) 10 percent. 
C) 9 percent. 
D) 110 percent.

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage increase in the price level from one year to the next. If the table shows a price level increase from 2007 to 2008 that corresponds to a 10 percent rise, then the inflation rate is approximately 10 percent.

-In the Above Table, the Inflation Rate Between 2007 and 2008