If an American construction company built a road in Kuwait, this activity would be
A) excluded from U.S. GNP.
B) fully included in U.S. GDP.
C) included in U.S. GNP only for that portion that was attributable to American capital and labor.
D) included in U.S. GDP but not in U.S. GNP.
C
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Which of the following correctly identifies an argument against free trade?
A) Free trade reduces world production. B) Free trade hampers technology transfers. C) Free trade increases the wages in importing countries. D) Free trade may result in job loss in some specific industries in the domestic economy.
The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today
A) more elastic; less elastic B) more elastic; more elastic C) less elastic; more elastic D) less elastic; less elastic