Table 8-19

-Refer to Table 8-19.Given the information above,calculate the rate of increase in the price level from 2017 to 2018.
A)8.6%
B)7.9%
C)-7.9%
D)-8.6%

Question

Table 8-19
 
-Refer to Table 8-19.Given the information above,calculate the rate of increase in the price level from 2017 to 2018.
A)8.6% 
B)7.9% 
C)-7.9% 
D)-8.6%

Quizplus · Accepted Answer

The rate of increase in the price level from one year to the next can be calculated using the formula: [(New Price Level - Old Price Level) / Old Price Level] * 100%. Without the specific numbers from Table 8-19, we can't perform the exact calculation, but an increase in price level would result in a positive percentage, making A) 8.6% the correct choice based on the options provided.

Table 8-19 -Refer to Table 8-19.Given the Information Above,calculate the Rate of Above,calculate