19. What is the CPI for 2020? (A) 100. (B) 196. (C) 301. (D) 2501. 20. Based on these data and their associated Consumer Price Indices, what is the inflation rate from 2018 to 2020? (A) 2,501%. (B) 731%. (C) 100%. (D) 1,176%. 21. Suppose that the typical consumer has a salary of $30,000 in 2017. His salary grows by 2% per year. What can we say about his ability to pay for his consumption basket over time? (A) He can never pay for his consumption basket without going into debt. (B) In 2017 and 2018, he can pay for his own consumption, but will be unable to in 2019 and 2020 without taking on debt. (C) From 2017-2019, he can pay for his own consumption, but will be unable to in 2020 without taking on debt. (D) He can always pay for his own consumption basket without taking on debt. 22. Suppose that the typical consumer's consumption basket changes in 2020, so that he consumes 50g of cocaine, 20 oz of silver, and only 100 memes. What does this imply about the official CPI statistics in 2020, which are based on the 2017 basket of goods? (A) Commodity substitution bias: the official CPI overstates the extent of inflation. (B) Unmeasured quality change: the official CPI overstates the extent of inflation. (C) Commodity substitution bias: the official CPI understates the extent of inflation. (D) Unmeasured quality change: the official CPI understates the extent of inflation.The next five questions involve the following situation: Consider an economy with only three consumption goods: cocaine, silver, and Doge memes.' The following table shows prices for 2017-2020. Use 2017 as the base year for any relevant calculations. Based on a 2017 survey, the typical consumer has an annual consumption of 20g of cocaine, 10 oz of silver, and 1,000 memes. Year Price of Cocaine (g) Price of Silver (oz) Price of a Meme 2017 $150 $1 2018 $150 SIG $5 2019 $120 516 $10 2020 528 $100 18. What is the CPI for 2017? (A) 100. (B) 196. (C) 301. (D) 2501