The Table Below Gives the Quantities and Prices for 2000

question 132

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

---

Definitions:

Constants

Fixed values that do not change in mathematical equations or experiments, ensuring consistency in calculations and outcomes.

Indifference Curves

Graphical representations of various combinations of goods or services between which a consumer is indifferent, showing levels of utility.

Bundle

A collection of goods or services that are sold together as a single package.

Constants

Fixed values in mathematical equations or experiments that do not change.