Answer :
The percentage change in the price level from 1960 to 1970 is approximately 31.08%.
To calculate the percentage change in the price level from 1960 to 1970 using the Consumer Price Index for All Urban Consumers (CPI-U), we need to find the difference in CPI-U values between these two years and then express it as a percentage of the initial value.
The CPI-U in 1960 was 29.6, and in 1970, it was 38.8. To find the difference, we subtract the CPI-U in 1960 from the CPI-U in 1970: 38.8 - 29.6 = 9.2.
Next, we calculate the percentage change by dividing the difference by the initial value (CPI-U in 1960) and multiplying by 100: (9.2 / 29.6) * 100 ≈ 31.08%.
Therefore, the percentage change in the price level from 1960 to 1970 is approximately 31.08%.
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