The question does not specify how the $n$-fold Cartesian product
$$
S_1 \times \ldots \times S_n
$$
was defined in the first place in the relevant learning material. If there is a formal definition, the first thing to do would be to see what it says when $n=1$.
Usually (e.g. Wikipedia) one takes the $n$-fold Cartesian product to be the set of $n$-tuples
$$
\{(x_1,\ldots,x_n) \;:\; x_1\!\in\!S_1, \,\ldots,\, x_n\!\in\!S_n \}.
$$
Formally this means that the $1$-fold Cartesian product is the set of 1-tuples $(x)$ for all $x$ in the original set. If the original set is $\{0,1\}$, its $1$-fold Cartesian product would be $\{(0),(1)\}$, that is, it contains the two $1$-tuples.
As to what is an $n$-tuple, it is often defined as a function from the $n$-element index set $\{1,2,\ldots,n\}$ to the relevant domain (as explained in more detail in Dan Asimov's answer). Strictly speaking, an $1$-tuple of real numbers is then not a real number, but a function from $\{1\}$ to real numbers. But of course there is an obvious isomorphism.
However, for convenience or other reasons, one may want to simplify things and say that the $1$-fold Cartesian product is the original set itself. See, for example, Encyclopedia of Mathematics on direct product (a synonym for Cartesian product):
If $I$ consists of the single element ${1}$, then $\prod_I X_i = X_1$.
Then it proceeds to define the $n$-ary product inductively from the right, so using that definition the ternary product is $$\prod_{i=1}^3 X_i = \left(\prod_{i=1}^2 X_i\right) \times X_3 = \left(\left(\prod_{i=1}^1 X_i\right) \times X_2\right) \times X_3 = (X_1 \times X_2) \times X_3.$$ The EoM explicitly says that "sometimes one defines" it this way. The existence of different definitions is clearly acknowledged here. Note that in this inductive definition, EoM starts from $n=1$ (thus leaves the $n=0$ case undefined).
So the answer really is, "depends on your exact definition". There are in fact many questions on math.SE about how exactly the $n$-fold Cartesian product should be understood, for example whether $A \times B \times C = (A \times B) \times C$ or not. You may want to read them. Some examples:
EDIT (after edits on the question). According to the OP, in class they simply defined the binary Cartesian product $A \times B$. So strictly speaking the $n$-ary Cartesian product was not defined there, and it is up to the student's imagination (or the teacher's additional remarks) to extend it to $n \ne 2$.
If one defines it as the set of $n$-tuples, then $n=0$ leads to the set of $0$-tuples, which is a one-element set:
$$
\{0,1\}^0 = \{()\}.
$$
This has the expected cardinality $2^0 = 1$.