2. In a simple economy, the base year is 2002. People consume only 2 goods, food and clothing. The market basket of goods used to compute the CPI has 50 units of food and 10 units of clothing. . Jd 2002 price 2003 price A. Calculate CPI for both years when the base year is 2002 B. What is the rise in the inflation rate 2002 - 2003? Show the process. lothing o = = 20 RVl (1pt) (1pt) C. What are the percentage change of prices for food and for clothing? Do these price changes affect all consumers to the same extent? Explain. (1pt.) 3. Your boss gave you a raise this year that increased your salary from $72,000 to $76,000. The CPI for this year is 106 compared to last year (the base year). Has your real wage rate increased or decreased from last year? Show your calculation. (1pt)