Consider the following price data from 2009 to 2011. Year Product 1 Product 2 Product 3 2009

Question:

Consider the following price data from 2009 to 2011.

Year Product 1 Product 2 Product 3 2009 38 94 45 2010 40 92 48 2011 42 98 56

a. Compute and interpret the simple price index for each product, using 2009 as the base year.

b. Compute and interpret the unweighted aggregate price index, using 2009 as the base year.

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