All questions refer to this information. The consumer price index for an economy consists of only two items: books and hamburgers. In 2020, the base year, the typical consumer p…

asked Sep 5, 2024 91.4k views

All questions refer to this information. The consumer price index for an economy consists of only two items:

books and hamburgers. In 2020, the base year, the typical consumer purchased 10 books for €25 each and 25
hamburgers for €2 each. In 2023, the typical consumer purchased 15 books for €30 each and 30 hamburgers
for €3 each.
SHOW YOUR WORK

Question 1:
What is the consumer price index in 2020?

Question 2:
What is the consumer price index in 2023?

Question 3:
If the amount produced of each good in the above economy is equal to the amount consumed.

What is the GDP in 2023?