The Table Shows the Prices and the Quantities Consumed in Carnivore

question 23

Multiple Choice

The table shows the prices and the quantities consumed in Carnivore Country.The base year is 2013.This means that 2013 is the year the typical basket was determined so the quantities consumed in 2013 are the only quantities needed to calculate the CPI in each year.
Table
$$\begin{array} { | c | c | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Price of } \\\text { beef }\end{array} & \begin{array} { c } \text { Quartity of } \\\text { beef }\end{array} & \begin{array} { c } \text { Price of } \\\text { pork }\end{array} & \begin{array} { c } \text { Quartity of } \\\text { pork }\end{array} \\\hline 2013 & \text { R38 } & 100 & \text { R19 } & 100 \\\hline 2014 & \text { R47.50 } & 90 & \text { R.7.10 } & 120 \\\hline 2015 & \text { R52.25 } & 105 & \text { R19 } & 130 \\\hline\end{array}$$
-Refer to the table above.What is the value of the basket in the base year?

• A)R1045
• B)R5700
• C)R6327
• D)R7956.25
• E)R8725.75

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Definitions:

Production Possibilities Frontier

A visual depiction illustrating the highest achievable production combinations of two products or services within an economy, assuming all resources are completely and effectively used.

Shift Outward

An economic term describing the expansion of a country's production possibility frontier, indicating increased capacity to produce goods and services.

Improvement In Technology

Enhancements or advancements in technology that lead to more efficient processes, products, or services.

Debt-to-Total-Assets Ratio

The debt-to-total-assets ratio is a financial metric that measures a company's leverage by comparing total debts to total assets.