Brown ground beef and chopped onion in a small amount of fat in a skillet over medium heat.

Drain off any excess fat and set aside.

Cook elbow macaroni in tomato juice in a saucepan over medium heat until tender.

Add browned ground beef and onion mixture to the cooked macaroni.

Stir in canned corn and sliced olives, mixing well to combine.

Transfer the mixture to a casserole dish.

Cover the casserole with sliced Velveeta cheese.

Bake at 350°F (175°C) for 20-25 minutes, or until the cheese is melted and bubbly.