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3.a. Using the CPI i. The Canadian CPI was 11.5 in September 1920 and is 142.9 in September 2021. Calculate the average annual rate of
3.a. Using the CPI i. The Canadian CPI was 11.5 in September 1920 and is 142.9 in September 2021. Calculate the average annual rate of inflation from 1920 to 2021 (101 years). Show your work. Average annual rate of inflation: % per year [Work] ii. In Calgary, in 1920, a dozen eggs cost14 $0.50. In Calgary, in 2021, a dozen Great Value Large Eggs cost $2.99 at Walmart. Use the CPI information from part i. to determine whether the price of eggs has gone down, gone up, or stayed the same in real terms (after adjusting for inflation). Show your work and briefly explain your reasoning. The price of eggs in Calgary has in real terms, from 1920 to 2021. [Reasoning & work]
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