Question Suppose that the representative consumer in Country ABC buys 4 units of each consumer good and the prices of each good are: Consumer Good 2019 2020 2021 X $4 $5 $5 7.5 a) What is the cost of a typical basket of consumer goods for 2019, 2020, and 20217 b) Convert the cost of each bundle into a CPI using 2019 as the base year. c) What is the inflation rate for 2020 and 20217 ANSWER QUESTION HERE (8 MARKS) a) Year Cost of Typical Basket b) Year CPI c) Inflation Rate 2019 56 100 2020 70 125 2021 84 150