-The Data in the Table Above Shows the Consumption by }

question 184

Multiple Choice

$$\begin{array} { c c c c } \text { Item } & \begin{array} { c } \text { Quantity } \\( 2009 ) \end{array} & \begin{array} { c } \text { Price } \\( 2009 ) \end{array} & \begin{array} { c } \text { Price } \\( 2010 ) \end{array} \\\hline \text { Salt } & 2 & \$ 1.00 & \$ 2.00 \\\text { Bread } & 20 & \$ 2.50 & \$ 3.00 \\\hline\end{array}$$
-The data in the table above shows the consumption by families in a small (poor) economy.The families consume only salt and bread.The reference base period is 2009.The cost of the CPI market basket in 2010 is

• A) $5.00.
• B) $64.00.
• C) $8.50.
• D) $52.00.
• E) unable to be calculated because information is needed about the quantities purchased in 2008.

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Definitions:

Spaghetti Consumption

The amount of spaghetti consumed over a certain period, often used to measure food consumption patterns or preferences.

Consumption

The use of goods and services by households or individuals, often regarded as the final purpose of economic activity.

Utility Function

A mathematical representation that ranks individuals' preferences for sets of goods or outcomes, where higher values imply higher preference levels.

Consumptions

The act of using goods and services by households or individuals, leading to the satisfaction of their needs and wants.