Which of the Following Statements Is True About Voluntary Export

question 57

Multiple Choice

Which of the following statements is true about voluntary export restraints (VERs) ?

• A)VERs benefit consumers by limiting import competition.
• B)VERs reduce the domestic price of an imported good.
• C)When imports are limited to a low percentage of the market by a VER,the price is bid up for that limited foreign supply.
• D)Foreign producers agree to VERs because they fear economic instability in the world economy.
• E)VERs negatively affect domestic producers by increasing import competition.

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