When the Japanese car maker Toyota expands one ofits car factories in the United States, what is the likelyimpact of this event on the gross domestic productand gross national product of the United States?a. GDP rises and GNP falls.b. GNP rises and GDP falls.c. GDP and GNP both rise but GDP rises by more.d. GDP and GNP both rise but GNP rises by more.

Question

When the Japanese car maker Toyota expands one of
its car factories in the United States, what is the likely
impact of this event on the gross domestic product
and gross national product of the United States?
a. GDP rises and GNP falls.
b. GNP rises and GDP falls.
c. GDP and GNP both rise but GDP rises by more.
d. GDP and GNP both rise but GNP rises by more.

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Economics

Cost of production

Utility Analysis

Aggregate Supply

Development

Indifference Curves and Budget Line

Market Faliure

IS-LM

Economic models

Economic Development

CLRM

Perfect competition

Opportunity Cost

Measurements of elasticity

Aggregate Demand

Consumer demand theory

National Income

Risk Aversion

Factors of Production

Microeconomics

Macroeconomic models

Keynesian economics

Classical economics

Economic Growth

Related Economics Q&A

Find answers to questions asked by students like you.

Q: . If demand is elastic, how will an increase in pricechange total revenue? Explain.

A: ANS Demand is said to be elastic if the % change in the level of quantity demanded is more than the ...

Q: What is the effective annual yield of 8.7% compounded continuously?4.6. A financial institution is w...

A: Hi, thanks for the question. As per the guidelines we are allowed to attempt the first question. If ...

Q: Draw a supply-and-demand diagram with a tax onthe sale of a good. Show the deadweight loss. Showthe ...

A: The tax is unilateral payment from the people to the government. Tax is the main source of income of...

Q: The U.S. can produce 100 pounds of beef or 10 cars; in contrast Germany can produce 40 pounds of bee...

A: As given,

Q: Engineering Economy. How do you solve problem 3

A: Annual maintenance cost for the first 5 years = $1000 per year. Annual maintenance cost for the next...

Q: How does the bangko sentral ng pilipinas controls and intervene in the inflation rate of the country

A: The Bangko Sentral ng Philipinas (BPS) is the central bank of the Republic of the Philippines. Estab...

Q: Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 1...

A: Comparative advantage refers to a situation wherein the country (say X) specializes in the manufactu...

Q: Suppose the following data represent the market demand for catfish:  Price (per unit) $20 19 18 17 1...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Consider the following data on U.S. GDP: Year Nominal GDP (in billions of dollars) GDP Deflator (...

A: GDP Deflator: GDP Deflator measures the prices of all final goods and services which produced domest...

Q: Detail and critically assess the economics of the reserve capacity mecha

A: The mechanism of the reserve capacity session of electricity gives framework on the wholesale market...

Q: If the CPI is 200 for the year 1980 and 300 today,then $600 in 1980 has the same purchasing poweras ...

A: Consumer Price Index (CPI) :  Consumer Price Index (CPI) is the average of the prices that a consume...

Q: What is contemporary issue. Explain the concept

A: The word contemporary is defined as the present time, current or scenario. The contemporary issue is...

Q: Jason Stilton is the chief executive officer of RightLiving a company that buys life insurance polic...

A: IDDR means I desire to do right, it's a corporate decision-making operation. The first S inquiry see...

Q: Using an aggregate demand and supply graph, illustrateand describe the following:a. The short-run ef...

A: Aggregate demand and aggregate supply curve represent the total liquidity of money in the market at ...

Q: Price discrimination by a monopolist refers tocharging different prices based ona. the consumer’s wi...

A: Price discrimination is a practice of charging different prices for the same commodities from differ...

Q: Why do some economists advocate taxingconsumption rather than income?

A: Taxes are those mandatory payments that are levied by the government on individuals as well as firms...

Q: Economists may disagree because they havedifferenta. hunches about the validity of alternativetheori...

A: Economists may disagree because they have different hunches about the validity of alternative theori...

Q: Suppose the government borrows $20 billion morenext year than this year.a. Use a supply-and-demand d...

A:  

Q: If a popular TV show on personal finance convincesAmericans to save more for retirement, the________...

A: The famous show on T.V which inspire public to save (s) more , will result into a rise in savings in...

Q: Private owenership in the market system is believed to enhance innovation and faster growth than in ...

A: A market economy is characterized by the availability of economic liberty and autonomy to individual...

Q: Consider the market for fire extinguishers.a. Why might fire extinguishers exhibit positiveexternali...

A: Hello. Since you have posted multiple parts of the question and not specified which part of the ques...

Q: Given the utility function, U(X)=ln(X) where X > 0, with initial consumption C=30000. Calculate t...

A: Fair game is when an investment that has no high returns for a higher risk. 

Q: Why would haircuts on collateral increase sharply during a financial crisis? How would this lead to ...

A: Haircut means the disparity b/w the amount of a loan & collateral which is set up for it. For in...

Q: Explain why the aggregate demand curve slopes downwardand the short-run aggregate supply curve slope...

A: Why the aggregate demand curve slopes downward? The aggregate demand (AD) curve slopes downward beca...

Q: (Substitution and Income Effects) Suppose that the cost of living increases, thereby reducing the pu...

A: To explain the income & substitution effect:  Income effect is that effect which basically shows...

Q: Draw the indifference curve for someone decidinghow to allocate time between work and leisure.Suppos...

A: There is a choice which people face between income (to earn and consume) and leisure. It can be show...

Q: please very very urgent  Given the utility function, U(X)=ln(X) where X > 0, with initial consump...

A: Fair game is when an investment that has no high returns for a higher risk.  Given: U(X)=ln(X) Initi...

Q: What are the two subfields of economics? Explainwhat each subfield studies.

A: ANS The two subfields of economics are: Microeconomics : In this, we study the characteristics of an...

Q: When the nation of Ectenia opens itself to worldtrade in coffee beans, the domestic price of coffeeb...

A: International trade arises when two countries can exchange different goods and services.  The proces...

Q: True or false. The law of diminishing marginal utility predicts the consumption behavior of addicts ...

A: Marginal utility is the additional utility gained by consuming an additional unit of a commodity. Th...

Q: What items would you include to figure out theopportunity cost of a vacation to Disney World?

A: The opportunity cost refers to the giving up benefits in the process of obtaining some other benefit...

Q: Consider the markets for film streaming services,TV screens, and tickets at movie theaters.a. For ea...

A: Complementary goods refer to a good that can be used along with the combination of other good; other...

Q: Solve it now I upvote question number 9 onlys.

A: Answer to question number 9 is as given below :

Q: What are the key building blocks of the neoclassical consumption model?

A: The consumption function under the Keynesian theory is a function of a consumer's current disposable...

Q: Explain the disequilibrium in the market due to surplus situation? Also explain the surplus situatio...

A: The equilibrium in a market occurs when the demand is equal to the supply of the good. When the quan...

Q: Which of the following are systematic errors?                                                      a...

A: Error in economics means behaviour of the person that diminishes the probability of attaining his ne...

Q: Which of the following is an example of a positiveexternality?a. Dev mows Myra’s lawn and is paid $1...

A: Externalities are costs or benefits to a third party who is not involved in a particular market tran...

Q: Solve it correctly both subparts a and early I upvote.

A: Market Demand is calculated by adding all the individual demands at each price. So, the following a...

Q: List the conditions required for purely competitive markets.

A: Different forms of market structures differ in their level of competitiveness, ranging from highly c...

Q: Grim Trigger: Consider the infinitely repeated game with discount factor 8 < 1 of the following vari...

A: Game Trigger Strategy - Under this, at the initial period a player using grim trigger will cooperate...

Q: If a country experiences high inflation relative to the U.S., its exports to the U.S. should ____, i...

A: Inflation refers to a continuous increase in the general price level. Higher inflation leads to a hi...

Q: I am struggling with how to rearrange the Qs and Qd equa. at the beginning so I am getting stuck in ...

A: Answer: Given values: Inverse demand function: Inverse supply function: To find: The equilibrium p...

Q: The question is in the attached picture !!

A: TFC = Production function which is not variable during short run. It remains fixed.                 ...

Q: When a market is in equilibrium, the buyers arethose with the _________ willingness to pay and these...

A: Demand- Demand is defined as the consumer's willingness or desire to pay a price for goods and serv...

Q: Explain it early I upvote. Alm three subparts Price elasticity of demand and cross plasticity of dem...

A: Elasticity refers to the responsiveness of one variable to changes in another variable; given that t...

Q: GDP is an imperfect measure of well-being because ita. includes physical goods produced but notintan...

A: GDP is an important measure and is actually used in different analysis. The main issue which the res...

Q: Jim buys only milk and cookies. a. In year 1, Jim earns $100, milk costs $2 per quart, and cookies c...

A: (a)   When an individual’s wants and needs are unlimited, but the budget of an individual is limited...

Q: Discuss how the utility-maximization model helps highlight the income and substitution effects of a ...

A: Q: Discuss how the utility-maximization model helps highlight the income and substitution effects of...

Q: 1) a. Find the present value of an ordinary annuity if you have a plan to pay an annuity of Rial Oma...

A: Interest rate is given in terms of compounded weekly and payment is made annual basis. So convert th...

Q: How will each of the following changes in demand and/or supply affect equilibrium price and equilibr...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...