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Question: nominal cost help both questions please...

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Nominal Cost Help; Both questions, please.

Refer to table 1. Consider a basket of goods that includes 10 apples, 5 bananas, 3 kiwis, and 1 pineapple. At the prices given in the table, what is the nominal cost of the basket of goods in 2004? Table 1 ear apple baaa kiwi pineapple 2003 $4 $2 $5 $6 2004 $3 $2 $6 $8 Select one: O a. $80 o b. $66 O c. $73 O d. $40 Refer to table 1 again. Consider the same basket of goods (10 apples, 5 bananas, 3 kiwis, and 1 pineapple). At the prices given in the table, what is the rate of inflation between 2003 and 2004 (Use 2003 as the base year)? Table 1 apple banana kiwilpineapple 2003 $4 $2 $5 $6 2004 $3 $2 $6 $8 Select one: O a. 7% О с. 3% O d.-2%

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