Suppose a typical consumer’s “basket” consists of 5 bottles…
Suppose a typical consumer’s “basket” consists of 5 bottles of gatorade, 2 pairs of shoes, and 2 books. Fill in the blanks. Use 2019 as the base year. Round your answers to the nearest cent (or hundredth). Year PGatorade PShoes PBooks Price of Basket CPI Inflation 2018 $1 $45 $20 $ 90 – 2019 $2 $50 $20 $150 11.11% 2020 $2.50 $50 $15 $142.50 % 2021 $3 $60 $12 $159 106 2022 $4 $70 $9 $ 11.95%