Table 13-19 -Refer to Table 13-19

Table 13-19
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average Hourly } \\\text { Earnings }\end{array} & \begin{array} { c } \text { CPI } \\( \mathbf { 1 9 8 2 - 1 9 8 4 } = \mathbf { 1 0 0 } ) \end{array} \\\hline 2011 & \$ 10 & 100 \\\hline 2012 & 10 & 105 \\\hline 2013 & 12 & 110\\\hline\end{array}$$
-Refer to Table 13-19.Looking at the table above,what is the rate of growth of the average price level from 2011 to 2012?

A) 1%
B) 2%
C) 3%
D) 4%
E) 5%

Correct Answer:

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