YEAR 2020 Reset Good Quantity Price (0-$900) Expenditure Rent (2-BR apartments) 1 650.00 $650.00 Hamburgers 60 2.50 $150.00 Movie tickets 10 8.00 $80.00 Gasoline (gallons) 40 1.30 $52.00 Constant Expenditure $932.00 Current Expenditure $932.00 EEEd CPI CP1 2019 $850.00 = 100.0 CP1 2020 $932.00 $850.00 $850.00 = 109.6 Rate of Inflation = 9.6% a) Note that the CPI-based rate of inflation between 2019 and 2020 in the baseline scenario provided is 9.6%. Suppose, Instead of rising from $2 to $2.50 between 2019 and 2020, the price of hamburgers rose to $3.50. What would be the rate of inflation? Instructions: Round your answer to one decimal place. b) Reset the table. Now, suppose instead of rising to $8 in 2020, the price of movie tickets rose to $9. What would be the rate of Inflation? Instructions: Round your answer to one decimal place 16.A Consumer Price Index (with Inflation) YEAR 2019 (BASE YEAR) Reset Good Quantity Price (0-$900) Expenditure Rent (2-BR apartments) 600.00 $600.00 Hamburgers 60 2.00 $120.00 Movie tickets 10 7.00 $70.00 Gasoline (gallons) 40 1.50 $60.00 Constant Expenditure $850.00 Current Expenditure $850.00