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
Chapter1: Making Economics Decisions
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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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