The Voluntary Export Restraints on Autos by Japan in the Early

question 62

Multiple Choice

The voluntary export restraints on autos by Japan in the early 1980s were:

• A) prohibited by the WTO.
• B) unlike an import quota and did not affect the price of cars imported.
• C) unlike a tariff and did not affect the price of imports.
• D) a bad deal for the U.S. consumers.

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Definitions:

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution to a problem.

New Idea Generation

The process of creating novel and original concepts or solutions, often leading to innovation.

Geodemographic Analysis

The study of people based on where they live, integrating geography with demographic analysis for marketing and other purposes.

Licensing

The act of granting rights by one party to another to use intellectual property such as patents, trademarks, or technology under agreed terms and conditions.