The Data in the Table Above Shows the Consumption by Families

question 161

Multiple Choice

The data in the table above shows the consumption by families in an economy.The year 2013 is the reference base period.
-Based on the table above,the cost of the base period market basket in the base period is

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

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Definitions:

Trade-In Allowance

The amount credited to the buyer by the seller when the buyer trades in an old item towards the purchase of a new item.

Retain Or Replace

A decision-making process regarding whether to keep an existing asset or replace it with a new one, considering aspects such as costs, benefits, and performance.

Relevant Cost

Costs that should be considered when making a decision because they will affect the future and they differ among alternatives.

Old Equipment

Tangible assets previously used in operations, possibly obsolete or near the end of its useful life.