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Hello if someone may help me with this homework problem. 2 . Problems 22-5 Consider the effects of inflation in an economy composed of only

Hello if someone may help me with this homework problem.

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2 . Problems 22-5 Consider the effects of inflation in an economy composed of only two people: Felix, a bean farmer, and Janet, a rice farmer. Felix and Janet both always consume equal amounts of rice and beans. In 2016 the price of beans was $1, and the price of rice was $4. Suppose that in 2017 the price of beans was $2 and the price of rice was $8. Inflation was Indicate whether Felix and Janet were better off, worse off, or unaffected by the changes in prices. Better Off Worse Off Unaffected Felix O O Janet O O O Now suppose that in 2017 the price of beans was $2 and the price of rice was $4.80. In this case, inflation was 9% Indicate whether Felix and Janet were better off, worse off, or unaffected by the changes in prices. Better Off Worse Off Unaffected Felix O O O Jane O O O Now suppose that in 2017, the price of beans was $2 and the price of rice was $1.60. In this case, inflation was % Indicate whether Felix and Janet were better off, worse off, or unaffected by the changes in prices. Better Off Worse Off Unaffected Felix O Janet O O O What matters more to Felix and Janet? The relative price of rice and beans The overall inflation rate

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