170:14 Attempts Score | 2 25. Problems and Applications Q7 The chapter explains that Canada Pension Plan benefits are increased each year in proportion to the increase in the CPI, even though most economists believe that the CPI overstates actual inflation. If the elderly consume the same market basket as other people, does the Canada Pension Plan provide the elderly with an improvement in their standard of living each year? + O NO Yes higher lower In fact, the elderly consume more r the elderly would therefore have a han younger people, and medicine costs have risen faster than overall inflation. The market basket for weight on medicine. Save & Continue Continue without saving175:12 Back to Assignment Attempts Score | 2 25. Problems and Applications Q7 The chapter explains that Canada Pension Plan benefits are increased each year in proportion to the increase in the CPI, even though most economists believe that the CPI overstates actual inflation. If the elderly consume the same market basket as other people, does the Canada Pension Plan provide the elderly with an improvement in their standard of living each year? O No O Yes In fact, the elderly consume more medicine than younger people, and medicine costs have risen faster than overall inflation. The market basket for the elderly would therefore have a weight on medicine. Save & Continue Continue without saving