A 1984 FTC report estimated that these voluntary exports restraints (VER) annually cost U.S.
consumers $1,109.2 million (in 1983 dollars), nearly ten times more than the $115.3 million of
annual gains reaped from these VERS by U.S. automakers. The annual cost per job created was
$216,137 - nearly 13.5 times more than the average annual earnings ($16,068) of the American
worker in 1983. World Trade Organization phased out VERS in the 1990s. Why did VERS most likely
persist before the 1990s?
O Domestic producers successfully lobbied for the VERS.
O The automobile industry represents a large percentage of economic activity in the United States.
O The automobile industry was in the early stages of its development.
O Voters preferred to pay higher prices for automobiles.
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