USProducers Faced Certain Disadvantages as Imports Rose in 13 Major

question 79

Multiple Choice

U.S.producers faced certain disadvantages as imports rose in 13 major industries studied by Shepherd.The producers initially responded to this by _____

• A)improving the technology used in production.
• B)exiting the industry.
• C)seeking trade barriers.
• D)removing trade barriers.
• E)raising prices to recoup their losses.

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Definitions:

Breach of Contract

occurs when one party fails to fulfill its obligations under the contract without a legitimate legal excuse, thereby violating the agreement.

Commercial Units

Standardized units or quantities of goods that are considered acceptable by all parties in a commercial transaction for the purpose of sale or lease.

Conforming

Adhering to or complying with a set standard, rule, or norm.

Non-conforming

Refers to a property or product that does not meet local zoning or building standards.