Looking at the Following Table,what Is the Rate of Growth

question 222

Multiple Choice

Looking at the following table,what is the rate of growth of the average price level from 2016 to 2018? $$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average } \\\text { Hourly Earnings }\end{array} & \begin{array} { c } \text { CPI } \\( \mathbf { 2 0 1 6 } = \mathbf { 1 0 0 } ) \end{array} \\\hline 2016 & 10 & 100 \\\hline 2017 & 10 & 105 \\\hline 2018 & 12 & 110 \\\hline\end{array}$$

• A) 1.52%
• B) 2%
• C) 3.5%
• D) 4.76%

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