Solved

The Data in the Table Above Shows the Consumption by |

Question 50

Multiple Choice

 Item  Quantity (2011)  Price (2011)   Quantity  (2012)   Price (2012)   Magazines 400$5.00450$4.50 Movie tickets 50$6.00200$8.00 Pizzas 100$10.00120$10.50\begin{array} { | l | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Quantity } \\( 2011 ) \end{array} & \text { Price (2011) } & \begin{array} { c } \text { Quantity } \\\text { (2012) }\end{array} & \text { Price (2012) } \\\hline \text { Magazines } & 400 & \$ 5.00 & 450 & \$ 4.50 \\\hline \text { Movie tickets } & 50 & \$ 6.00 & 200 & \$ 8.00 \\\hline \text { Pizzas } & 100 & \$ 10.00 & 120 & \$ 10.50 \\\hline\end{array}
The data in the table above shows the consumption by families in an economy. The year 2011 is the reference base period.
-
Based on the table above, the cost of the base period market basket in the base period is


A) $3,250.
B) $4,885.
C) $21.00.
D) $4,650.
E) $3,300.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents