Refer to Table 12.2 for the following questions.
Table 12.2

-Refer to Table 12.2.Calculate the rate of increase in the price level from 2012 to 2013.

Question

Refer to Table 12.2 for the following questions.
Table 12.2
 
-Refer to Table 12.2.Calculate the rate of increase in the price level from 2012 to 2013.

Quizplus · Accepted Answer

To calculate the rate of increase in price level from 2012 to 2013, we need to use the formula:

Rate of increase = [(Price index in 2013 - Price index in 2012) / Price index in 2012] x 100

Substituting the values from the table, we get:

Rate of increase = [(112.1 - 103.3) / 103.3] x 100
                 = 8.6%

Therefore, the correct answer is A.

Refer to Table 12.2 for the Following Questions