As noted in the text, the major Japanese auto manufacturers agreed to "voluntary" import restrictions that reduced the number of cars they could ship to the U.S. market in the 1980s
One of the key outcomes from this policy is that the Japanese manufacturers were able to: A) focus on more profitable auto markets in other countries.
B) raise their prices of autos in the U.S. market and capture higher profit margins on the imported cars.
C) cut their costs by more than the import tariff, so profit per auto increased.
D) all of the above
B
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Countries that have high rates of savings also have
A) high rates of investment. B) low rates of investment. C) stock market bubbles. D) low rates of growth. E) no international trade.
Whenever the marginal product of a firm's only variable input was positive, but falling: a. its total product is growing at a decreasing rate
b. it will use more of the variable input until its marginal product is negative. c. it would reduce its use of the variable input. d. its total product is beyond its maximum.
Which of the following impacts of a Gulf hurricane would not show up as a direct loss to GDP?
a. The reduction in crude oil production b. The reduction in oil refining c. The loss of oil production facilities d. The loss of restaurant business in coastal communities e. The reduction in agricultural production
Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2
Refer to Table 30.2. What is the real wage rate in 2015 using 2017 as the base year?
A. $4.21 B. $8.40 C. $11.40 D. $15.20