Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help solving this problem Quiz Instructions Prices Question 31 2 pts Cotton is grown in Alabama and sold to a company that makes thread

Need help solving this problem

image text in transcribed
Quiz Instructions Prices Question 31 2 pts Cotton is grown in Alabama and sold to a company that makes thread for $5,000. The company that makes thread, turns the raw cotton into thread and sells it to a company that makes cloth for $8,500. The company that makes cloth turns the thread into cloth and sells it to an overseas company that turns the cloth into t-shirts for $11,000. The overseas company makes the T- shirts from the cloth and sells it to a US retailer for $15,500. Finally, the US retailer sells the t- shirts to customers for $25,000. Referring to the scenario above, the value of exports is 2500 and the value of imports is 3500 er helpful? the base Previous Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International economics

Authors: Robert J. Carbaugh

13th Edition

978-1439038949, 1439038945, 978-8131518823

More Books

Students also viewed these Economics questions