homework is due today. Please help. Thank you and God bless!

they are unemployed t 2. Suppose that you borrow money from a bank at a fixed rate of interest, but that over the period of the loan, the inflation rate turns out to be much higher than both you and the bank expected. In that case, is it better to have been the borrower or the lender? Explain your reasoning. 3. Assume the CPI price index is calculated using the basket of goods listed below. What was the inflation rate in 2016? Base Year (1999) 2015 2016 Quantity Price Price Price Haircuts $10.00 $11.00 $16.20 Hamburgers $2.00 $2.45 $2.40 DVDS $15.00 $15.00 $14.00