Consider an economy where the consumers buy widgets, cogs, and services. The CPI market basket consists of 122 widgets, 395 cogs, and 837 services.  We have the following prices for 2021 and 2022: Year Widget Cost Cogs Cost Services Cost 2021 107.14 56.19 28.48 2022 149.80 66.89 36.90 If the base year is 2022, what is the price index for 2021? Round your answer to two digits after the decimal. Be careful here.  The table looks the same as the previous question but the numbers are different!

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Q: What does the CPI in the base year equal? Explain your answer.

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