Table 12-24 -Refer to Table 12-24

Essay

Table 12-24
$\begin{array}{|l|r|c|}\hline & \mathbf{2 0 1 7} & \mathbf{2 0 1 8} \\\hline \text { Nominal GDP } & \mathbf{\$ 1 0 , 0 0 0} & \$ 15,000 \\\hline \text { Real GDP } & 9,500 & 10,500 \\\hline\end{array}$
-Refer to Table 12-24.Given the following information,calculate the rate of increase in the price level from 2017 to 2018.Use the percent change in the GDP deflator.