Which of the Following Best Summarizes the Short-Term Outcome of the Restrictions

question 15

Multiple Choice

Which of the following best summarizes the short-term outcome of the restrictions on Japanese imported cars during the 1980s?

• A) Many jobs were saved, but consumers paid for them in higher foreign and domestic auto prices.
• B) Despite higher prices on both domestic and imported cars, few jobs could be saved.
• C) Ultimately, additional jobs were lost, but prices were held constant for over a year.
• D) The restrictions had little effect on the job market, but domestic car costs fell substantially.
• E) They were ineffective in both reducing the imports of Japanese cars and saving U.S. jobs.

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Definitions:

Reciprocal Liking

The phenomena where people tend to like others who like them in return.

Primacy Effect

The cognitive phenomenon where individuals are more likely to remember and give more weight to information that is presented first in a series.

Matching Hypothesis

The notion that people tend to have lovers or spouses who are similar to themselves in physical attractiveness and other assets.

Conformity

is the act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.