2017 2018 2019 Basket of Goods Price Price Price 10 pounds of apples $1/pound $2/pound $1/pound 5 pounds of butter $3/pound $3/pound $4/pound 15 loaves of bread $2/loaf $3/loaf $4/loaf 4 pairs of pants $16/pair $18/pair $20/pair 4 shirts $20/shirt $20/shirt $18/shirt.

a) Calculate the cost of the market basket for each year. b) Using your calculations from part a, calculate a price index for each year, with 2018 as the base year. c) Using your price indices calculated in part b, calculate the inflation rate for 2018. d) Using your price indices calculated in part b, calculate the inflation rate for 2019.