If Adjustment Costs Associated with Removing Trade Restrictions Are High

question 198

Multiple Choice

If adjustment costs associated with removing trade restrictions are high, trade barriers should

• A)not be removed.
• B)be increased while workers are being retrained for new jobs.
• C)be slowly phased out to give workers time to retrain and find new jobs.
• D)be immediately removed so workers are forced to retrain and find new jobs.
• E)not be changed until all workers have left because of attrition.

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Definitions:

TQM

Total Quality Management, a management approach focused on long-term success through customer satisfaction, involving all members of an organization in improving processes, products, services, and culture.

Deming Approach

A management philosophy focused on quality improvement through continuous refinement and employee involvement, based on the ideas of W. Edwards Deming.

Profound Knowledge

Deep, comprehensive understanding of a subject or field, often resulting from years of study and experience.

Check Sheet

A structured, prepared form for collecting and analyzing data; a simple data recording tool used for quality control purposes.