The Table Below Gives the Quantities and Prices for 2000

question 28

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. $$\begin{array} { | l | c | c | c | c | } \hline & &{ \text { Quantity produced } } & & { \text { Price } } \\\hline & \mathbf { 2 0 0 0 } & \mathbf { 2 0 1 0 } & \mathbf { 2 0 0 0 } & \mathbf { 2 0 1 0 } \\\hline \text { Sailboats } & 10 & 20 & \$ 500 & \$ 525 \\\hline \text { Coconuts } & 2,000 & 2,400 & \$ 1 & \$ 2 \\\hline\end{array}$$ 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:

Investment Recovery

The process of recovering value from surplus or obsolete assets through redeployment, sale, recycling, or disposal.

Revenue Recovery

The process of identifying and recouping lost revenue due to errors, underbilling, or overlooked financial opportunities.

Cost Reduction

Strategies or actions implemented by a company to decrease its expenses and improve profitability.

Disposal Channels

Methods or avenues through which unwanted or obsolete products are discarded, recycled, or repurposed.