G Suppose you are told that a bask * /content/1/Econ122_A2_13_2020.pdf 3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of water. The following table provides the prices of these goods in various years: Item 2015 Price (5 per unit) 2016 Price (per unit) 2017 Price (per unit) 2 2 3 4 Apple Water 1 (a) What is the CPI in 2015, 2016, and 2017 if 2015 is the base ar? (b) What is the (CPI) inflation 2015-2016 and 2016-2017? (c) How does CPI differ in 2015 and 2016 if 2016 is the base year? (a) What effect does this have on your calculation of (CPI) inflation between 2015- 2016? G Suppose you are told that a bask * /content/1/Econ122_A2_13_2020.pdf 3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of water. The following table provides the prices of these goods in various years: Item 2015 Price (5 per unit) 2016 Price (per unit) 2017 Price (per unit) 2 2 3 4 Apple Water 1 (a) What is the CPI in 2015, 2016, and 2017 if 2015 is the base ar? (b) What is the (CPI) inflation 2015-2016 and 2016-2017? (c) How does CPI differ in 2015 and 2016 if 2016 is the base year? (a) What effect does this have on your calculation of (CPI) inflation between 2015- 2016