Clarence is a Japanese citizen working for Toyota at the manufacturing plant located in Tennessee. Clarence's work will contribute toward:
A. U.S. GDP since the location of the plant is in the U.S.
B. Japan's GDP since he's a Japanese citizen.
C. Japan's GDP since it's a Japanese firm.
D. both the U.S. and Japan's GDP.
A. U.S. GDP since the location of the plant is in the U.S.
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If a 10 percent increase in the price of a luxury hotel room causes the quantity demanded to decrease by 41.5 percent., we can conclude that the price elasticity of demand for luxury hotel rooms is approximately -0.24
Indicate whether the statement is true or false
Why is macroeconomic forecasting so difficult? Does this difficulty mean economics is a worthless field of study?
What will be an ideal response?
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A) appreciated than depreciated; appreciated B) depreciated then appreciated; depreciated C) depreciated then appreciated; appreciated D) depreciated; depreciated
Which of the following products has the most elastic demand?
A. Coca Cola in 12 oz. cans B. all cola drinks C. all carbonated beverages D. all beverages