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Proctoring Enabled: LS The table below lists the prices and quantities consumed of three different goods from 2021-2023. . 2021 2022 Good 2023 Price ($)

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Proctoring Enabled: LS The table below lists the prices and quantities consumed of three different goods from 2021-2023. . 2021 2022 Good 2023 Price ($) Quantity Price ($) Quantity Price ($) Quantity n CO Co 01:00:56 m U H IN a. For 2021, 2022, and 2023, determine the amount that a typical consumer pays each year to purchase the quantities listed in the table above. Instructions: Round your answers to the nearest whole number. 2021 2022 2023 Consumer expenditure Instructions: Round your answers to one decimal place. b. The percentage change in the amount the consumer paid is % from 2021 to 2022, and % from 2022 to 2023. c. It is problematic to use your answers to part b as a measure of inflation because (Click to select) . Instructions: Round your answers to one decimal place. d. Suppose we take 2021 as the base year, implying that the market basket is fixed at 2021 consumption levels. Using 2021 consumption levels, the rate of inflation was % from 2021 to 2022, and % from 2022 to 2023. Instructions: Round your answers to one decimal place. e. Repeat the exercise from part d, now assuming that the base year is 2022. Using 2022 consumption levels, the rate of inflation is % from 2021 to 2022, and % from 2022 to 2023. 4 f. Your answers from parts d and e were different because (Click to select)

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