According to the Data Presented in the Text,the Effect of Japan's

question 127

Multiple Choice

According to the data presented in the text,the effect of Japan's voluntary export restraints on cars in 1984

• A) increased the price of Japanese cars in the United States.
• B) decreased the price of Japanese cars in the United States.
• C) increased the number of Japanese cars imported in the United States.
• D) caused Japanese car companies to delay building plants in the United States.

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Definitions:

Prime Costs

The combined costs of direct materials and direct labor that are directly involved in the production of goods.

Direct Materials Costs

Costs that are directly traceable to the production of specific goods or services, such as raw materials used.

Direct Labor Costs

Expenses related to employees who directly contribute to the production of goods or services, such as wages for assembly line workers.

Period Costs

Costs that are expensed in the period they are incurred rather than being capitalized or included in the cost of goods sold, such as selling, general, and administrative expenses.