Refer to Table 13 -Refer to Table 13

Multiple Choice

Refer to Table 13.2 for the following questions.
Table 13.2
$$\begin{array} { | l | c | c | } \hline & \mathbf { 2 0 1 7 } & \mathbf { 2 0 1 8 } \\\hline \text { Nominal GDP } & \$ 12000 & \$ 13000 \\\hline \text { Real GDP } & \$ 9500 & \$ 10500 \\\hline\end{array}$$
-Refer to Table 13.2.Calculate the rate of increase in the price level from 2017 to 2018.

A) 1.6%
B) 2.9%
C) -2.9%
D) -1.6%