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Could you help me? Question 3 [4!) points! The government has hired you as an economic statistician and has given the job of calculating the

Could you help me?

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Question 3 [4!) points! The government has hired you as an economic statistician and has given the job of calculating the CPI [the Chili Price Index; not the consumer price index] at Purchasing Power Parity Brussels and New Turk City. According to the government's ofcial recipe. the ingredients for a batch of chili are: 3 pounds of hamburger, 2 pounds of tomatoes. and 1!: pound of onions. The prices of the ingredients for chili are determined by an extensive survey. The current prices for the ingredients in each city are as follows: m s1.os per pound I_ 51115 per pound Please make sure you show all your work 1] Calculate the cost of a batch of chili in each city (it! points] 2] Calculate the cost of a batch of chili in PPP in each city [1D points} 3] What is the Price Level Index {PLI} of a batch of chili at the current exchange rate of $1.00 to 0.91, with the United States as the base economy? [1i] points} 4] What would happen to the PLI of a batch of chili if the exchange rate were to he ELEM} to CE??? {1D points}

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