Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter3: Your Role As A Consumer
Section3.3: Consumerism
Problem 5R
Related questions
Question
Q6
The table attached contains information about an economy that produces only pens and books. The base year
is 2003.
With reference to the table above. What is the value of real
a) R800
b) R1,060
c) R1,460
d) R1,200
![Year
Price of Pens (R) Quantity of pens
Price of books (R)
Quantity of books
2003
3
100
10
50
2004
3
120
12
70
70
2005
4
120
20
14
70](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d644e9e-72e1-469b-9a38-cbde802feb1e%2F2d354c5c-a3ee-430b-aa16-5609d92787d1%2F94hon4t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Year
Price of Pens (R) Quantity of pens
Price of books (R)
Quantity of books
2003
3
100
10
50
2004
3
120
12
70
70
2005
4
120
20
14
70
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