The following table lists the prices of a small market basket purchased in both 2008 and 2018 . Assuming that this basket of goods is representative of all goods and services, compute the price of the market basket in (a) 2008 and (b) 2018 and then answer two questions about price levels and real income. Instructions: Round your response to two decimal places. c. By how much has the average price level risen between 2008 and 2018? Hint: Compare the total basket cost in 2018 to the total basket cost in 2008. d. The average household's nominal income increased from $40,000 to $60,000 between 2008 and 2018 . What happened to its real income? Real income did not change. Real income decreased. Real income increased