In 1954, Canadian Prime Minister Louis Stephen St. Laurent was paid a salary of $15,000. Stephen Harper, the Prime Minister in 2014, was paid $157,731. The price index for 1954 is 14.1 and the price index for 2014 is 121.7. What is, approximately, Prime Minister St. Laurent's salary equivalent in 2014 dollars?

	a.	$110,500
	b.	$114,500
	c.	$129,500
	d.	$211,500

Research done at the Bank of Canada suggests that the sources of bias in CPI, taken together, cause the Canadian CPI to overstate increases in the cost of living. How much does the research indicate it is overstated by?

	a.	0.5 percentage points
	b.	1.6 percentage points
	c.	2.1 percentage points
	d.	3.4 of a percentage point