Scenario 6.1 Suppose That United States Furniture Makers Import $100 of Wood

question 17

Multiple Choice

Scenario 6.1
Suppose that United States furniture makers import $100 of wood and parts in order to make a dining room table selling for $500.The imports have no tariff of quota restrictions.
-Based on Scenario 6.1 above,value added in the United States is

• A)$500.
• B)$600.
• C)$400.
• D)$300.
• E)None of the above.

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Definitions:

Southern Democrats

Members of the Democratic Party in the United States who reside in the South, historically associated with supporting segregation and opposing civil rights reforms.

Democratic Party

One of the two major contemporary political parties in the United States, traditionally associated with progressive and liberal policies.

1948 Convention

Likely refers to the Universal Declaration of Human Rights adopted by the United Nations General Assembly in 1948, setting a standard for human rights.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected by law and central to debates over justice, democracy, and societal progress.