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1. Calculating inflation using a simple price index Co sider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's antital purchases. Goppose the following table shows information on the market basket for the CSPI and the prices of each of the gdads in 2019, 2020, and 2021 The cost of each item in the basket and the total cost of the basket are shown for 2019. Perform these same calculations for 2020 and 2021, and enter the results in the following table, 2019 2020 2021 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 30 Calculators Large coffees 250 Energy drinks 50 Textbooks 10 120 1,200 Total cost 1 900 Price index 100 Suppose the base year for this price index is 2019. In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Between 2019 and 2020, the CSPI increased by :jim .Between 2020 and 2021. the CSPI increased by high Which of the following, if true, would illustrate why price indexes sind CSPI might overstate inflation in the cost of going to college? Check all that apply. Energy drinks became increasingly popular on college campuses between 2019 and 2021 due to significant improvements in flavor. O A new mobile device for personal computing became available for purchase. O As the price of calculators rose, fower students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers. Professors required each student to buy 15 notebooks, regardless of the price