28. . a. Suppose the CPI in a specific year takes the value of 122. Does this mean that prices rose 122% over the reference period, on average? Explain briefly your answer. [3 marks] b. If last year, the CPI was equal to 110, and at the end of this year it is equal to 105, calculate the inflation rate over this time period. [3 marks] c. Consider the UAE banks lowering their interest rates offered on loans. Explain how such a policy may affect the AD and if we should expect inflation or deflation. [4 marks]