In Terms of the Value of Jobs Saved,the Voluntary Restrictions

question 30

True/False

In terms of the value of jobs saved,the voluntary restrictions on Japanese cars imported to the U.S.in the early 1980s were efficient.

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Definitions:

Cost-Plus Pricing

A selling price determination approach where a fixed markup is added to the per unit cost of the product.

Mark-Up Percentage

The additional percentage included in the goods' cost price to account for overhead expenses and profit in the sales price.

Time And Material Pricing

A pricing method where the customer is charged based on the time spent on a service and the cost of materials used.

Labour

The measure of human work or effort used in the production of goods and services.