Question: Type the correct answer in each box. Round your answers to two decimal places, if necessary. Consider a simple economy where the basket of goods

Type the correct answer in each box. Round your answers to two decimal places, if necessary. Consider a simple economy where the basket of goods used to calculate the CPI contains two items shirts and pants. The basket consists of 3 shirts and 2 pairs of pants. Each item increases in price by $1 in year 2. Use this information to complete the table and calculate the CPI. Year Price of a Shirt Price of a pair of Pants $25 $20 year 1 year 2 $ $ The CPI for year 2 is

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