Moving along an elastic portion of a demand curve, a small percentage change in price leads to a larger percentage change in quantity demanded

A decrease in the price of inputs will cause the supply curve for a product to shift to the right

Indicate whether the statement is true or false

If Honda (a Japan-based firm) produces a car in Ohio and exports it to Japan, in which country's GDP will the car be counted?

a. Japan's, because Honda is a Japanese company b. Japan's because that is where the car is purchased c. The GDP of the United States because that is where it was built d. Both Japan and the United States