Voluntary Export Restraints Have Been Used Mainly in Areas Such

question 1

Multiple Choice

Voluntary export restraints have been used mainly in areas such as textiles, automobiles, and steel and are intended to:

• A) Help companies in the importing nation survive
• B) Show good political citizenship by members
• C) Penalize producers of raw materials and manufactured products
• D) Stimulate import demand in countries that are not members of a trading bloc

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Definitions:

Labor-Force Participation

The percentage of the working-age population that is engaged in the labor market, either employed or actively seeking employment.

Minimum Wage

The lowest legally permissible hourly wage that companies can pay to employees.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting and analyzing essential data related to labor economics, including employment, unemployment, and price statistics.

Labor Force

The total number of people who are currently employed or actively seeking employment within an economy.