Assume that people spend 30 percent of their income on food, 45 percent on housing, and 25 percent on transportation. Assume that 2020 is the base year, and use the table below to compute the Consumer Price Index (CPI) for 2021: Year 2020 2021 Price of Food $100 $120 Multiple Choice O O 23 100 116 156.5 Price of Housing $200 $210 3 Price of Transportation $100 $150 Cost of the Basket $145 $168

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