Use below information to answer Questions 6-9. "The shopping basket of a typical South African citizen consists of white star super maize meal poly 10kg, pan cooking oil 5lt, 2kg country range chicken mixed portions. Economist from Grain SA, Marguerite Pienaar yesterday highlighted a complex food landscape, where most staple prices have increased. Below is the change in prices of various food products between 2022 and 2023.(NB: The survey of these household expenditures was done in 2022)." Item 2022 Price per unit 2023 Price per unit White star super maize meal poly R250/kg R280/kg Pan cooking oil R60/litre R65/litre Country range chicken mixed R130/kg R170/kg portions
Use below information to answer Questions 6-9. "The shopping basket of a typical South African citizen consists of white star super maize meal poly 10kg, pan cooking oil 5lt, 2kg country range chicken mixed portions. Economist from Grain SA, Marguerite Pienaar yesterday highlighted a complex food landscape, where most staple prices have increased. Below is the change in prices of various food products between 2022 and 2023.(NB: The survey of these household expenditures was done in 2022)." Item 2022 Price per unit 2023 Price per unit White star super maize meal poly R250/kg R280/kg Pan cooking oil R60/litre R65/litre Country range chicken mixed R130/kg R170/kg portions
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
ChapterA: Working With Diagrams
Section: Chapter Questions
Problem 1QP
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Question
QUESTIONS- ATTACHED TABLE
1. Calculate the
A. 3060
B. 3505
C. 100
D. 115
2. Calculate Consumer Price Index for year 2023?
A. 3060
B. 3505
C. 100
D. 115
3. Calculate the cost of consumer basket in 2023.
A. 3060
B. 3505
C. 100
D. 115
4. Which of the following is CORRECT?
A. The annual inflation rate has gone up by 15%
B. The annual inflation rate has gone down by 15%
C. The annual inflation rate has gone up by 10%
D. The annual inflation rate has gone down by 10%
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