alQuestionWindow":[{"id":"3b0369bb-f93e-4f51-8fde-f2e9f79e2305","revisionId":"c9e6cd89-356d-45ef-9100-afa1a0519780","questionNumber":null,"questionType":"LA","specification":"","difficulty":3,"difficultyBand":"easy","totalMarks":2,"sourceTitle":null,"calculatorUse":null,"parts":[{"id":"f915995b-5b9d-4e24-ae30-de5aeb95c0c2","label":null,"content":"Explain, using the information in **Fig. 2.1**, what has happened to the real price of domestic gas between 2008 and 2022.\n\nFig. 2.1: Index of CPI and domestic gas prices 2008–2022 (Base Year 2008 = 100)\n\n| Year | Consumer Price Index (CPI) | Domestic Gas Bill Index | Average Gas Consumption Index |\n|---|---|---|---|\n| 2008 | 100.0 | 100.0 | 100.0 |\n| 2010 | 105.2 | 108.0 | 98.4 |\n| 2012 | 111.8 | 120.5 | 95.1 |\n| 2014 | 115.4 | 132.0 | 91.8 |\n| 2016 | 117.2 | 125.0 | 93.5 |\n| 2018 | 123.6 | 135.2 | 90.2 |\n| 2020 | 127.8 | 142.1 | 91.0 |\n| 2022 | 141.2 | 194.5 | 86.5 |","markscheme":"- States that the real price of domestic gas has increased (or that domestic gas prices rose faster than inflation / CPI) B1\n- Supports this explanation with correct comparative index data from the table (e.g. CPI increased by 41.2% to 141.2, while the domestic gas bill index increased by 94.5% to 194.5) B1","marks":2,"order":0,"markingRubric":null,"explanation":null,"options":[]}],"options":[],"explanation":null,"firstAttemptFullMarks":null},{"id":"3bcb8937-acfe-45d7-a00b-5fb9e11b5829","revisionId":"5e7874b7-dabd-44e5-8b13-12618c57b7ce","questionNumber":null,"questionType":"LA","specification":"","difficulty":5,"difficultyBand":"easy","totalMarks":4,"sourceTitle":null,"calculatorUse":null,"parts":[{"id":"2c9e9ed4-2262-49dd-9d21-7d53849feb06","label":null,"content":"Using the data in Table 2.1, compare the annual inflation rate in September 2023 to the annual inflation rate in September 2020.\n\nTable 2.1: Consumer Price Index (CPI) for Canada (Base Year = 2018)\n\n| Date | CPI Value |\n| :--- | :--- |\n| September 2019 | 102.0 |\n| September 2020 | 104.04 |\n| September 2021 | 107.0 |\n| September 2022 | 111.0 |\n| September 2023 | 119.88 |","markscheme":"- Calculates the annual inflation rate for September 2020: $\\dfrac{104.04 - 102.0}{102.0} \\times 100 = 2.0\\%$ M1\n- Calculates the annual inflation rate for September 2023: $\\dfrac{119.88 - 111.0}{111.0} \\times 100 = 8.0\\%$ M1\n- Makes a comparative statement that the inflation rate in September 2023 was higher than in September 2020 A1\n- Quantifies the difference, stating that it was $6.0$ percentage points higher (or four times larger) A1","marks":4,"order":0,"markingRubric":null,"explanation":null,"options":[]}],"options":[],"explanation":null,"firstAttemptFullMarks":null},{"id":"3c795848-9fa3-4257-a477-1e76e21fa676","revisionId":"6b52c1c8-8272-4072-9bd5-da6b8db593e2","questionNumber":null,"questionType":"MC","specification":"The table below shows the annual rate of inflation for an economy over a four-year period:\n\n$$\\begin{array}{|c|c|}\n\\hline\n\\text{Year} & \\text{Annual Rate of Inflation (\\%)} \\\\ \\hline\n1 & +4.0 \\\\ \\hline\n2 & +1.5 \\\\ \\hline\n3 & -2.0 \\\\ \\hline\n4 & +3.5 \\\\ \\hline\n\\end{array}$$\n\nWhich of the following statements is correct?","difficulty":5,"difficultyBand":"easy","totalMarks":1,"sourceTitle":null,"calculatorUse":null,"parts":[],"options":[{"id":"fb457676-bb3d-401e-a5ce-a88ee41e0397","content":"The general price level was lower in Year 2 than in Year 1.","correct":false,"markscheme":"Incorrect. Since Year 2 inflation is positive (+1.5%), the general price level rose and was higher than in Year 1.","order":0},{"id":"25d8f1e8-b283-454a-9047-eb9ce8f0a6fd","content":"The purchasing power of money was higher in Year 3 than in Year 2.","correct":true,"markscheme":"Correct. Year 3 experienced negative inflation (-2.0%), meaning the general price level fell, which increases the purchasing power of money.","order":1},{"id":"fe850391-cba6-410f-8df2-fa8e1bdc15a5","content":"The general price level

Date	CPI Value
September 2019	102.0
September 2020	104.04
September 2021	107.0
September 2022	111.0
September 2023	119.88

Inflation

Question 16

Inflation Questions

Inflation

Question 16

Inflation Questions