Consider thefollowing:

Price Index in 2017 88

Price Index in 2018 100

Price Index in 2019 107

Price Index in 2020 123

Price Index in 2021 147

a. The base year is 2018

b. Calculate the inflation rate from 2018 to 2019 = 7%

c. Calculate the inflation rate from 2019 to 2020 = 14.95%

d. Assume the cost of a market basket in 2018 is $1,636.0. (Enter your responses rounded to one decimalplace.)

Calculate the cost of the same basket of goods and services in 2017?

Calculate the cost of the same basket of goods and services in 2021?