8 of 15 The following table lists GDP and Price between 2015

(8 of 15) The following table lists GDP and Price between 2015 and 2017. What is the growth rate of Prices between 2016 and 2017 using the percent change method? round totwo places 0.00) Year GDP Price 2015 16 2017 $17,875 18,325 $19.058 109.30 110.60 112.70 Save Answer Skip Question- I Am Finished/Submit for Grade Note: Clicking any button other than the Save Answer button will NOT save any changes to your answers!

Solution

Price growth rate between 2016 and 2017 by % method

=((2017 price - 2016 price)/2016 price)*100

=((112.7-110.60)/110.6)*100

=(2.1/110.6)*100

=1.89%