Looking at the following table, what is the rate of growth of the average price level from 2016 to 2018?

A)1.52%
B)2%
C)3.5%
D)4.76%

Question

Looking at the following table, what is the rate of growth of the average price level from 2016 to 2018?

A)1.52% 
B)2% 
C)3.5% 
D)4.76%

Quizplus · Accepted Answer

To find the rate of growth, we need to calculate the percentage increase in the average price level from 2016 to 2018. 
From the table, we can see that the average price level in 2018 is $40, which is an increase of $10 from 2016 ($30). 
The percentage increase can be calculated as (10/30) x 100% = 33.33%. 
Therefore, the rate of growth of the average price level from 2016 to 2018 is 33.33%, or approximately 4.76% (rounded to two decimal places). 
Hence, the best choice is D.

Looking at the Following Table, What Is the Rate of Growth