Which of the following would increase GNP in the United States?
A) an increase in the production of Japanese-owned Toyota cars in the U.S.
B) an increase in the production of Japanese-owned Toyota cars in Mexico
C) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S.
D) an increase in the production of U.S.-owned General Motors cars made in Mexico
D
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Cleantown and Grimyville are identical except for the inferior air quality in Grimyville. All potential residents have identical tastes. Apartments in Cleantown rent for $400 per month. The cost of breathing Grimyville air is $75 per month. The quantity of apartments in each town is fixed.
(i) Explain why an apartment in Grimyville must rent for $325 per month. (ii) Consider the social gain created by Grimyville apartments. How is this social gain divided between the residents and the landlords? (iii) Suppose that the air in Grimyville is brought up to Cleantown standards. Who benefits from the cleaner air?
Consider the demand curves for soft drinks shown in the figure above. Initially the economy is at point a. If people come to expect that the price of a soft drink will increase in the future, there will be a movement to a point such as
A) none of the points illustrated. B) b. C) c. D) d.
An industry that has increasing returns to scale and fixed factor prices will have a long-run supply curve that is:
A. Vertical B. Horizontal C. Upward-sloping D. Downward-sloping
Which demand is more price elastic: The demand for all personal computers or the demand for Dell computers? Explain your answer
What will be an ideal response?