Statistics Canada calculates a separate sub-indices for goods and for services. The goods index rose from 96.8 from 112.0 over a 10-year period. During the same period, the services index rose from 95.2 from to 115.1. Answers should be to the nearest cent and .01%.
- How much did the representative basket of goods, worth $1000 at the beginning of the period, cost 10 years later?
- How much did the representative services, worth $1000 at the beginning of the period, cost 10 years later?
- What is the difference between the percent increase in cost of goods and percent increase in cost of services over the decade?