Question

If the US set a 12 percent tariff on imported automobiles, a Toyota that cost the equivalent of 13,000 in Japan would be priced at ____________.

Answer 1

If the US set a 12 percent tariff on imported automobiles, a Toyota that cost the equivalent of $13,000 in Japan would be priced at $14,560 in the US.

Step-by-step explanation:

If the US set a 12 percent tariff on imported automobiles, a Toyota that cost the equivalent of $13,000 in Japan would be priced at $14,560 in the US.

To calculate this, you would multiply the original price ($13,000) by the tariff rate (12%).

$13,000 * 0.12 = $1,560

Then, you would add the tariff amount to the original price: $13,000 + $1,560 = $14,560