The Table Below Gives the Quantities and Prices for 2000

question 58

Multiple Choice

The table below gives the quantities and prices for 2000 and 2010 for an economy that produces just two goods: sailboats and coconuts. For this economy that produces just sailboats and coconuts, and with 2000 is the base year, nominal GDP was approximately ______ times larger in 2010 than it was in 2000.

• A)1.34
• B)1.65
• C)1.77
• D)2.19

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Definitions:

International Financial Reporting Standards (IFRS)

A set of accounting standards designed to bring consistency to accounting language, practices, and statements across the globe.

Net Operating Working Capital

A financial metric that calculates the difference between a company's operating current assets and its operating current liabilities.

Current Assets

Assets on a balance sheet expected to be converted into cash, sold, or consumed within one year or the business cycle, whichever is longer.

Current Liabilities

Current Liabilities are a company's debts or obligations that are due to be paid to creditors within one year, including accounts payable, short-term loans, and other short-term financial obligations.