Question: 4. Does the weighted CPI reflect the patterns of consumption of all consumers in the United States? Explain. 5. Using the categories, construct a weighted

4. Does the weighted CPI reflect the patterns of consumption of all consumers in the United States? Explain. 5. Using the categories, construct a weighted price index for 2013. 6. Construct a weighted price index for 2014. 7. Using the weighted price indexes for 2013 & 2014, calculate the inflation rate. 8. Assume that the due to a sharp drop in oil prices in 2015, the indexed price of transportation falls from 199.8 in December 2014 to 150.8 in December 2015. Calculate the impact this will have on the overall inflation rate in the United States, assuming there are no other changes in prices

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