Refer to the information provided in Table 7.6 below to answer the questions that follow.
Table 7.6
-Refer to Table 7.6. If 2015 is the base year, the inflation rate between 2015 and 2016 is
A) 13.8%.
B) 12.2%.
C) 9.4%.
D) 7.0%.

Question

Refer to the information provided in Table 7.6 below to answer the questions that follow.
Table 7.6 
-Refer to Table 7.6. If 2015 is the base year, the inflation rate between 2015 and 2016 is
A) 13.8%. 
B) 12.2%. 
C) 9.4%. 
D) 7.0%.

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage change in the price level from one year to the next. If 2015 is the base year, the inflation rate between 2015 and 2016 is found by taking the difference in the price levels between these two years, dividing by the price level in the base year (2015), and then multiplying by 100 to get a percentage. The correct answer, 13.8%, indicates this calculation method was used with the given data.

Refer to the Information Provided in Table 7