Quantitative Regulations

What is the definition of prohibition in relation to International Trade Law?

• A limit on the quality of goods that can be imported/exported.
• A self-imposed limit on goods being exported.
• A requirement that certain products can only be imported at a certain price point.
• A total and complete ban, no quantity of a product can be imported.

Which of these is NOT true regarding Minimum Import/export Pricing (MIP)?

• It provides relief and promotes growth for a domestic industry.
• Imports of a certain product are only allowed at a certain price.
• Every country in the world uses MIP.
• Example: India only allows steel priced at $341/tonne to be imported.

In International Trade Law, what is the definition of the word Quota?

• Limit on the amount of a good that can be imported/exported.
• Limit on the cost of a good that can be imported/exported.
• Limit on the quality of a good that can be imported/exported.
• A tariff placed on imported goods.

What is the definition of Mixing Regulation in terms of International Trade Law?

• When a state requires that a product is made of two or more materials in exact proportions.
• When a state government-owned enterprise that deals in import/export affects outside trade markets.
• When no amount of a certain good or product can be imported/exported.
• When a state restricts an amount of a good from being exported to a specific country.

"Imported frozen pizza must be 10% cheese and 40% dough."
This is an example of...

• Voluntary Export Restraint
• MIP
• Mixing Regulation
• Quota

Which of these is NOT true regarding State trade operations/enterprises (STE)?

• It when a government enterprise dealing with import/export of goods does something that negatively affects foreign trade markets.
• It is only actionable if it meets the requirements:
  1.) Government-owned
  2.) Causes trade problems
• Example: U.S. Wheat protects the domestic wheat industry by setting the price of imported wheat very low.
• A state puts a limit on the amount of steel that can be imported.

"Iran doesn't allow the import of any magazines."
This is an example of...

• Quota
• Voluntary Export Restraint
• Prohibition
• State Trade Enterprise

"Japan puts a quota on cars being exported to the United States to help the U.S. auto industry and avoid a trade war."
This is an example of...

• VER
• MIP
• STE
• GATT

"The United States only allows 10,000 tons of foreign-grown tomatoes to be imported every year."
This is an example of...

• VER
• MIP
• Quota
• STE

Which of these is NOT a Quantitative Restriction?

• Minimum Import Pricing
• Tariff
• Quota
• Mixing Regulation