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In Econtropica, only three goods, popcorn, movie shows, and drinks are being produced. The table shows prices and quantities produced of these goods in 2000,

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In Econtropica, only three goods, popcorn, movie shows, and drinks are being produced. The table shows prices and quantities produced of these goods in 2000, 2010, and 2011: 2000 2010 2011 P Q P Q P Q Popcorn 1.00 500 1.00 600 1.05 590 Movie shows 5.00 300 10.00 200 10.50 210 Drinks 0.70 300 0.80 400 0.75 420 (a) Find a growth rate between 2010 and 2011, using 2000 as a base year. Explain your working. (b) The Statistical Office of Econtropica constructed a consumer basket based on a survey that reports a typical family consumes 5 popcorn, 3 movie shows, and 3 drinks. Calculate the consumer price index for each of the three years, using 2000 as a base year. (c) Find the rate of inflation from 2010 to 2011. (d) Is the inflation rate different if you use 2010 as a base year? Explain

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