A notable example of a Voluntary Export Restraint (VER) is the following: in 1981, Japan agreed to limit its export of cars to the United States, imposing an annual limit of slightly less than 1.7...

A notable example of a Voluntary Export Restraint (VER) is the following: in 1981, Japan agreed to limit its export of cars to the United States, imposing an annual limit of slightly less than 1.7 million units. The automobile industry in the United States achieved this result with a massive lobbying activity, which was the only subject benefiting from such a trade-restricting measure. With reference to this example, explain the differences between a VER and a quota on imports.