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2.The only thing a typical Sandy Island family consumes is juice and cloth. Last year, which was the base year, the family spent $40 on
2.The only thing a typical Sandy Island family consumes is juice and cloth. Last year, which was the base year, the family spent $40 on juice and $25 on cloth. In the base year, juice cost $4 per bottle and fabric $5 per cut. This year, the juice is $4 per bottle and the fabric is $6 per cut. Calculate: a. The basic basket. b. The CPI for the current year. c. The inflation rate for the current year.
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