2. The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Base Year (Year 1) Price in the Price in Price in Product Quantity Base Year Year 2 Year 3 Pizza 25 $3.50 $4.38 $4.73 T-Shirts 3 $25.00 $22.50 $26.25 Rent 1 $500.00 $550.00 $650.00 The ination rate between Year 1 and Year 2 is %. (Round both answers to one decimal place.) The ination rate between Year 2 and Year 3 is %. 1. In 1975, the price of a Big Mac was $0.50. Use the information in the table below to nd the price of a Big Mac in 2006 dollars. Year CPI 1975 53.8 2006 201 .6 Source: Bureau of Labor Statistics. Base year = 1962-84. The value of a 1975 Big Mac in 2006 dollars is $ . (Round your answer to two decimal places.) The actual price of a Big Mac in 2006 was approximately $2.99. Thus the price of Big Macs has risen (1) the cost of living. (1) O faster than 0 at the same rate as O slower than