If the United States Is a Large Country That Imposes

question 2

Short Answer

If the United States is a large country that imposes a 30% tariff on imported T-shirts with a world price of $5 per T-shirt, what will be the value of T-shirts once they have cleared U.S. customs?

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Definitions:

Capital

All means of production (mainly plant and equipment) created by people.

Better Paid

Describes a position or job that offers a higher salary compared to others, often reflecting skill level, experience, or demand.

Foreign Workers

Employees from other countries working in a nation different from their homeland, often to fill labor shortages.

Tariff

A tax on imported goods.