Consider the following basket of student essentials:                                  2019          2020 Burritos           $6.30         $6.60 Pizzas             $9.90        $10.00 Movie Tickets  $10.00      $10.50 Energy Drinks $4.99        $5.99 a. Using 2019 as the base year, what is the CPI in 2019? b. Assume students buy 30 burritos, 25 pizzas, 15 movie tickets, and 200 energy drinks each year. What is the CPI in 2020 using 2019 as a base year? What is the inflation rate? Would this rate be higher or lower if students bought more energy drinks?

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