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Thanks so much 3. Suppose an economy has the following data and the consumer basket has 1 computer and 2 smart-phones (10 marks): Year 2019

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3. Suppose an economy has the following data and the consumer basket has 1 computer and 2 smart-phones (10 marks): Year 2019 2020 2021 Computer $15.00 $20.00 $25.00 Smart-phone $10.00 $10.00 $15.00 a. Compute the CPI (base year = 2020) for the year 2019, 2020 and 2021. b. Compute the inflation rate for the year 2020 and 2021. OTS

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