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All 3 questions The country of Myrule has produced the following quantity of gauges and potatoes, with the price of each listed in dollar terms:

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All 3 questions

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The country of Myrule has produced the following quantity of gauges and potatoes, with the price of each listed in dollar terms: 2001 2002 Good Quantity Price Price Gauges 8000 100 00 53 Potatoes 6000 5000 a) Using 2001 as the base year, what are the price indexes for 2001 and 20027 b) What is the inflation rate using this index? What is the percent change in real output using this index

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