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 natural gas from 2013 to 2017?
A)0.8%
B)8%
C)-0.8%
D)-18%
E)-8%

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 natural gas from 2013 to 2017?
A)0.8% 
B)8% 
C)-0.8% 
D)-18% 
E)-8%

Quizplus · Accepted Answer

- The index number for 2013 is 100.
- The value of natural gas exports in 2013 is $27.6 billion.
- The value of natural gas exports in 2017 is $26.1 billion.
- To calculate the percentage change, we use the formula:
((New value - Old value) / Old value) x 100
((26.1 - 27.6) / 27.6) x 100 = -5.43
- Therefore, the percentage change is -5.43.
- However, we need to express the answer as a positive percentage change, so we take the absolute value:
|-5.43| = 5.43
- Therefore, the percentage change in the value of exports of natural gas from 2013 to 2017 is 5.43%, which is closest to answer E, -8%.

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