1.Some economists argue that Inflation numbers calculated by CPI are not accurate especially during the pandemic. Explain why do they believe inflation numbers are not that accurate during pandemic? You can read more about limitations of CPI in the website of the Bank of Canada: (30 points)

https://www.bankofcanada.ca/2020/08/understanding-consumer-price-index/

2 Use the following table to answer the following questions. (25 points)

Year Price of Burgers Quantity of Burgers Price of Magazines Quantity of Magazines

2013 $4.00 100 $2.00 180

2014 $5.00 120 $2.50 200

a. Calculate GDP for 2013 and 2014 using 2013 as the base year.

b. What is the economy's inflation rate?

3. What is the difference between investment in the economic terminology and daily language?(15 points)