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PLeASE HELP ME 3. Consider the following economy producing the following three goods: Price per Unit in Units Purchased 2014 2015 2016 Good A 5

PLeASE HELP ME

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3. Consider the following economy producing the following three goods: Price per Unit in Units Purchased 2014 2015 2016 Good A 5 $1.00 $1.50 $1.50 Good B 10 $2.00 $2.50 $3.00 Good C 4 $4.00 $4.50 $5.00 (a) Calculate the bundle price for the goods for 2014, 2015 and 2016. (b) Suppose 2014 is the base period. Calculate the price index for 2014, 2015 and 2016. What is the ination rate between 2014 and 2015 and between 2014 and 2016? (0) Suppose 2015 is the base period. Calculate the price index for 2014, 2015 and 2016. What is the ination rate between 2015 and 2016? Show all calculations

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