Which of the following would increase GNP in the United States?
A) an increase in the production of U.S.-owned General Motors cars made in Mexico
B) an increase in the production of Japanese-owned Toyota cars in Mexico
C) an increase in the production of Japanese-owned Toyota cars in the U.S.
D) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S.
Answer: A
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The marginal utility from the consumption of a good is equal to the
A) total utility divided by the quantity consumed. B) total utility divided by the price. C) change in total utility divided by the change in the quantity consumed. D) change in total utility divided by the change in price.
Once a country has a comparative advantage in producing a product, it cannot lose that advantage
Indicate whether the statement is true or false