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1. Calculating inflation using a simple price index Consider an imaginary price index, the Undergraduate Price Index (UPI), created to represent the annual purchases made by a typical undergradute. The following table contains information on the market basket for the UPI and the price of each good in 2020, 2021, and 2022. The cost of each good in the basket as well as the basket's total cost are given for 2020. Perform these same calculations for 2021 and 2022, and enter the results in the following table. 2020 Quantity in Basket 2021 Cost (Dollars) (Dollars) 2 (Dollars) 120 1,300 100 (Dollars) 104 2 2 (Dollars) 134 105 4 2022 (Dollars) 134 Streaming services Iced coffees Textbooks Notebooks Energy drinks Total cost Price index Suppose this price index uses 2020 as the base year.