(Table: US

question 90

Multiple Choice

(Table: U.S. Demand for and Supply of Widgets) The United States can import widgets from China at $4 each and from Mexico at $5 each. The United States imposes a tariff of $2 on each of its widget imports. How many pairs of widgets will the United States produce?

• A) 8
• B) 9
• C) 10
• D) 11

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Definitions:

Stockholders' Equity

The portion of the balance sheet that represents the equity or ownership interest of shareholders in a company.

Monetary Value

Monetary value represents the worth of an item, service, or asset expressed in terms of money or currency.

Net Income

The final amount a company retains as earnings after subtracting costs and taxes from its gross income.

Revenue

The total amount of money a company generates from its business activities, such as sale of goods or services, before any expenses are subtracted.