Voluntary export restraints

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Voluntary Export Restraints

In the early 1980s, large numbers of Japanese cars began to enter the US. Under pressure from the US auto manufacturers, the US government negotiated a Voluntary Export Agreement with Japan, under which Japan agreed to limit the number of cars it would sell in the US. On separate diagrams for

Japanese cars in the US, and

US-made cars in the US,

show and explain the effect of VERs on each of these markets.

Reference no: EM131099848

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