As Imports Rose in 13 Major Industries Studied by Shepherd

question 145

Multiple Choice

As imports rose in 13 major industries studied by Shepherd, these U.S.producers, finding themselves at a cost and quality disadvantage relative to imported goods, initially responded by

• A)improving technology
• B)exiting the industry
• C)seeking trade barriers
• D)asking that quotas and tariffs be removed
• E)raising prices to recoup their losses

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Definitions:

Professional Environment

A workplace characterized by mutual respect, competence, and adherence to ethical standards and professional practices.

Knowledge-based Economy

An economic system where growth is primarily driven by the production, distribution, and use of knowledge and information.

Educational Attainment

The highest level of education an individual has completed, often used as a measure of skill and qualification for employment.

Cultural Forces

Refers to the various social and cultural factors that influence behaviors, values, and practices within a society or organization.