Set 9 ECON 101 You may work on the problem set individually or with up to 3 of your classmates. If you choose to work with a group, you all need to be attempting the problems and discussing them together or you will miss out on learning the concepts, which is the entire point of doing these problem sets. Each student needs to submit their own work on Gradescope. To submit, click the "Gradescope 1.3" link on Canvas or click the assignment link in Canvas. 1. The Consumer Expenditure Survey finds that a typical consumer in the U.S. buys 50 litres of soda and 80 small pizzas each year. In 2011 a litre of soda cost $1 and a small pizza cost $5. In 2016 a litre of soda cost $1.20 and a small pizza cost $6. A. Using 2011 as the base year, what is the CPI in 2011? B. Using 2011 as the base year, what is the CPI in 2016? C. Calculate inflation between 2011 and 2016. D. If you were making $10/hr in 2011, how much would you have to make in 2016 for your purchasing power to remain constant? 2. True or False; Explain