$$\begin{array} { | c | c | }
\hline \text { Year } & \text { Price level } \
\hline 2008 & 91 \
\hline 2009 & 100 \
\hline 2010 & 110 \
\hline 2011 & 121 \
\hline
\end{array}$$
-In the above table,the inflation rate between 2009 and 2010 is approximately
A) 9 percent.
B) 10 percent.
C) 100 percent.
D) 110 percent.

Question

$$\begin{array} { | c | c | } 
\hline \text { Year } & \text { Price level } \
\hline 2008 & 91 \
\hline 2009 & 100 \
\hline 2010 & 110 \
\hline 2011 & 121 \
\hline
\end{array}$$
-In the above table,the inflation rate between 2009 and 2010 is approximately
A) 9 percent.
B) 10 percent.
C) 100 percent.
D) 110 percent.

Quizplus · Accepted Answer

The inflation rate is the percentage increase in the price level between two periods. To find the inflation rate between 2009 and 2010, we need to calculate the percentage increase in price level from 100 to 110.

Inflation rate = ((New price level - Old price level) / Old price level) x 100%

In this case, the old price level is 100 and the new price level is 110.

Inflation rate = ((110 - 100) / 100) x 100% = 10%

Therefore, the inflation rate between 2009 and 2010 is approximately 10 percent.

-In the Above Table,the Inflation Rate Between 2009 and 2010