Table 20-9

-Refer to Table 20-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2017 and 2018?
A) 2%
B) 5%
C) 8%
D) 11%
E) 13%

Question

Table 20-9
 
-Refer to Table 20-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2017 and 2018?
A) 2% 
B) 5% 
C) 8% 
D) 11% 
E) 13%

Quizplus · Accepted Answer

The cost of living rose by 13% between 2017 and 2018. The CPI index rose from 245.0 in 2017 to 276.9 in 2018, an increase of 31.9 points. This represents a percentage increase of (31.9 / 245.0) * 100 = 13.02%.

Table 20-9 -Refer to Table 20-9. Suppose That the Data in the the Data