Question: 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

Need help solving this problem Quiz Instructions Prices Question 31 2 pts

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

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!