(a) The phenomena given in the question is a chemical change because the composition of the product formed is different from the substance taken.
(b) Yes, one can prepare one acidic and one basic solution by using the products formed in the above process.
(i) When CaO dissolves in water it forms calcium hydroxide which is a basic solution.
CaO(s)+H2O(l)→Ca(OH)2(aq)
(ii) When CO2(g) dissolves in water it forms carbonic acid which is acidic solution.
CO2(g)+H2O(l)→H2CO3(aq)