Question: 1, Below table shows the quantities produced and the corresponding prices in the years 2017 to 2019 of a fictional country Basket: 10 pizzas >

1, Below table shows the quantities produced and the corresponding prices

1, Below table shows the quantities produced and the corresponding prices in the years 2017 to 2019 of a fictional country Basket: 10 pizzas > 5 shirts Price of year Price of pizza shirts Cost of the basket 2017 $12 $18 2018 $14 $20 2019 $16 $22 a. Considering 2017 as the base year, calculate the CPI in years 2017, 2018, and 2019. b. Calculate the annual inflation rate from 2017 to 2018 and from 2018 to 2019. c. If a person's annual salary was $100,000 in 2017 and they got a raise of $10,000 in both 2018 and 2019. Should the person feel happy or sad about the raises? Explain

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