2023 ZU pizzas at DIV call Rent of apartment, $600 per month Gasoline and car maintenance, $100 Phone service (basic service plus 10 long-distance calls), $50 In the year following the base year, the survey takers determine that pizzas have risen to $1 1 each, apartment rent is $640, gasoline and maintenance have risen to $120, and phone service has dropped in price to $40. (i) Find the CPI in the subsequent year. (2 marks) (ii) Find the rate of inflation between the base year and the subsequent year. (2 marks) (iii) The family's income rose by 5 percent between the base year and the subsequent year. Are they worse off or better off in terms of what their income is able to buy? Explain. (3 marks) (b) True or False: If both the potential lender and the potential borrower correctly anticipate the rate of inflation, inflation will not redistribute wealth from the creditor to the debtor. Explain. (3 marks) The central bank of your assigned Caribbean country decides to pursue a contractionary monetary policy. Provide a table with the money supply data and inflation rate for your assigned Caribbean country for 2014 - 2019. (c) Based on the data from your assigned Caribbean country, do you agree with the central bank's decision to pursue a contractionary monetary policy? Explain why or why not. (5 marks) (d) Identify a newspaper article from your assigned Caribbean country that provides a situation in which a contractionary monetary policy was implemented by the central bank. Ensure that you provide a screenshot of the article in your submission. The screenshot should include the name of the publication, date of publication and name of the article. (i) Identify the contractionary monetary policy used in the article. (2 marks) (ii) Carefully explain, in as much detail as possible, how the chosen action from the article will impact the money market. (4 marks) (iii) Illustrate using the money market diagram, the overall impact of the chosen action from the article on the money market. (3 marks) . No marks will be awarded for Q3D part (i) if the article does not represent a contractionary monetary policy or the wrong policy is identified It is still possible to be awarded partial marks for Q3D part (ii) and (iii) even if no marks are awarded for Q3D part (i)