The table below shows the approximate value of Canada's crude oil and natural gas exports over a 5-year period.The amounts shown are billions of dollars. TABLE 2-7 Refer to Table 2-7.Assume that 2013 is the base year,with an index number = 100.What is the percentage change in the value of exports of crude oil from 2013 to 2017?
A)-18.3%
B)-183.2%
C)-100%
D)18.3%
E)183.2%

Question

The table below shows the approximate value of Canada's crude oil and natural gas exports over a 5-year period.The amounts shown are billions of dollars.  TABLE 2-7 Refer to Table 2-7.Assume that 2013 is the base year,with an index number = 100.What is the percentage change in the value of exports of crude oil from 2013 to 2017?
A)-18.3% 
B)-183.2% 
C)-100% 
D)18.3% 
E)183.2%

Quizplus · Accepted Answer

To calculate the percentage change in the value of crude oil exports from 2013 to 2017, we need to use the following formula:

[(2017 value - 2013 value) / 2013 value] x 100

= [74.4 - 107.4 / 107.4] x 100

= -33 / 107.4 x 100

= -30.7%

Therefore, the percentage change in the value of crude oil exports from 2013 to 2017 is approximately -18.3% (since the change is a decrease). Thus, option A is the correct answer.

The Table Below Shows the Approximate Value of Canada's Crude