A South Sea Island Produces Only Coconuts

question 9

Multiple Choice

A south sea island produces only coconuts. In 2012, the price of a coconut is $1 and the quantity produced is 200. In 2013, the price of a coconut is $1.50 and the quantity produced is 250. 2012 is the base year. Real GDP in 2013 is _{--------------------}.

• A)$200
• B)$1.50
• C)$375
• D)$350
• E)$250

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Definitions:

Budget Numbers

Financial projections or plans for future income and expenditures over a specific period.

Financial Statements

formal records of the financial activities and position of a business, person, or other entity, typically comprising the balance sheet, income statement, and cash flow statement.

Net Debt

A financial metric calculated by subtracting a company's total cash and cash equivalents from its total short-term and long-term debt.

Government Organizations

Entities established by a government to carry out specific functions or services, operating within the public sector and funded by the government.