Question 7 (1 point) The Consumer Price Index (CPI) was 122 last period and 126 at the end of the current period. Calculate the inflation rate over the period. a) 3.28% b) 4.00% Oc) 1.03% d) 3.17% Question 8 (1 point) Suppose a laptop costs US$1,000 in the US. The same laptop can be purchased in Britain for 900 British Pounds at a time when 1 British Pound = 1 USD. What affect would the purchases of these laptops likely have on the value of the British Pound in US$ terms? The Pound will get weaker (less expensive) The Pound will remain unchanged but Britain will sell lots of laptops. The Pound will remain unchanged but Britain will sell very few laptops as a result The Pound will get stronger (more expensive)