The Table Below Gives the Quantities and Prices for 2010

question 93

Multiple Choice

The table below gives the quantities and prices for 2010 and 2015 for an economy that produces just two goods: sailboats and coconuts. For this economy that produces just sailboats and coconuts, and with 2010 is the base year, nominal GDP was approximately ______ times larger in 2015 than it was in 2010.

• A) 1.34
• B) 1.65
• C) 1.77
• D) 2.19

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Definitions:

Total Assets

The sum of all assets owned by a company, as reported on the balance sheet, representing the resources controlled by the company.

Liabilities

Financial obligations or debts that a company owes to others, due to past transactions or events.

Revenue

The complete financial intake a company secures from transactions involving goods or services within a certain interval.

Expenses

Outflows or other using up of assets or incurrence of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity’s ongoing major or central operations.