Table 4.22
-Refer to Table 4.22.Given the information above, calculate the rate of increase in the price level from 2016 to 2017.

Question

Table 4.22 
-Refer to Table 4.22.Given the information above, calculate the rate of increase in the price level from 2016 to 2017.

Quizplus · Accepted Answer

The rate of increase in the price level from 2016 to 2017 is calculated using the formula for percentage change: [(New Value - Old Value) / Old Value] * 100. Assuming the price level in 2016 is the "Old Value" and the price level in 2017 is the "New Value," an increase from the old to the new value would result in a positive percentage, indicating growth. The exact numbers are not provided, but an 8.6% increase suggests that the price level in 2017 is 8.6% higher than in 2016.

Table 4.22 -Refer to Table 4.22.Given the Information Above, Calculate the Rate