Table 25-1. Athens and Troy Both Produce Only Ribs and Baked Potatoes

question 462

Multiple Choice

Table 25-1.
Athens and Troy both produce only ribs and baked potatoes.
-Refer to Table 25-1. Which of the following is correct?

• A)Both real GDP and real GDP per person are higher in Athens than Troy.
• B)Real GDP is higher in Athens while real GDP per person is higher in Troy
• C)Real GDP is higher in Troy while real GDP per person is higher in Athens.
• D)Both real GDP and real GDP per person are higher in Troy than Athens.

---

Definitions:

Substitutes

Products or services that can be used in place of each other; an increase in the price of one leads to an increase in demand for the other.

Available

Referring to resources or goods that are obtainable and can be utilized.

Perfectly Price Elastic

This refers to a situation where the demand for a product or service changes infinitely with a very small change in price.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity supplied by producers.