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Consider the data shown below for the Canadian Consumer Price Index (CPI), drawn from the Bank of Canada's website. a. Compute the missing data in the table. (Round your responses to one decimal place.) b. Do average prices ever fall in the time period shown? A. Yes, because the inflation rate falls in some years. B. Yes, because the inflation rate in 2020 is lower than it was in 2010. Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 A. 2010 C. 2012 E. 2014 G. 2016 1. 2018 K. 2020 CPI (2002=100) 116.5 119.9 121.6 123.1 125.7 126.6 128.4 130.4 132.4 136.0 137 CPI Inflation (% change from previous year) 1.8 2.9 1.4 1.2 2.1 0.7 1.4 1.6 1.5 2.7 0.7 C. No, because the CPI in 2020 is higher than it was in 2010. D. No, because the CPI is always rising. Using the rounded values for the CPI Inflation in part a, in which year do prices come closest to being stable? Select all that apply. B. 2011 D. 2013 F. 2015 H. 2017 J. 2019

Consider the data shown below for the Canadian Consumer Price Index (CPI), drawn from the Bank of Canada's website. a. Compute the missing data in the table. (Round your responses to one decimal place.) b. Do average prices ever fall in the time period shown? A. Yes, because the inflation rate falls in some years. B. Yes, because the inflation rate in 2020 is lower than it was in 2010. Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 A. 2010 C. 2012 E. 2014 G. 2016 1. 2018 K. 2020 CPI (2002=100) 116.5 119.9 121.6 123.1 125.7 126.6 128.4 130.4 132.4 136.0 137 CPI Inflation (% change from previous year) 1.8 2.9 1.4 1.2 2.1 0.7 1.4 1.6 1.5 2.7 0.7 C. No, because the CPI in 2020 is higher than it was in 2010. D. No, because the CPI is always rising. Using the rounded values for the CPI Inflation in part a, in which year do prices come closest to being stable? Select all that apply. B. 2011 D. 2013 F. 2015 H. 2017 J. 2019

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 34P: The total price of purchasing a basket of goods in the United Kingdom over four years is: year...
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Consider the data shown below for the Canadian Consumer Price Index (CPI), drawn from the Bank of Canada's website. a. Compute the missing data in the table. (Round your responses to one decimal place.) b. Do average prices ever fall in the time period shown? O A. Yes, because the inflation rate falls in some years. B. Yes, because the inflation rate in 2020 is lower than it was in 2010. A. 2010 C. 2012 E. 2014 G. 2016 2018 K. 2020 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 | I. CPI (2002 = 100) 116.5 119.9 121.6 123.1 125.7 126.6 128.4 130.4 132.4 136.0 137 CPI Inflation (% change from previous year) O C. No, because the CPI in 2020 is higher than it was in 2010. D. No, because the CPI is always rising. Using the rounded values for the CPI Inflation in part a, in which year do prices come closest to being stable? Select all that apply. 1.8 2.9 1.4 1.2 2.1 0.7 1.4 1.6 1.5 2.7 0.7 B. 2011 D. 2013 F. 2015 H. 2017 J. 2019
Transcribed Image Text:Consider the data shown below for the Canadian Consumer Price Index (CPI), drawn from the Bank of Canada's website. a. Compute the missing data in the table. (Round your responses to one decimal place.) b. Do average prices ever fall in the time period shown? O A. Yes, because the inflation rate falls in some years. B. Yes, because the inflation rate in 2020 is lower than it was in 2010. A. 2010 C. 2012 E. 2014 G. 2016 2018 K. 2020 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 | I. CPI (2002 = 100) 116.5 119.9 121.6 123.1 125.7 126.6 128.4 130.4 132.4 136.0 137 CPI Inflation (% change from previous year) O C. No, because the CPI in 2020 is higher than it was in 2010. D. No, because the CPI is always rising. Using the rounded values for the CPI Inflation in part a, in which year do prices come closest to being stable? Select all that apply. 1.8 2.9 1.4 1.2 2.1 0.7 1.4 1.6 1.5 2.7 0.7 B. 2011 D. 2013 F. 2015 H. 2017 J. 2019
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