Which of the Following Is the Best Example of a Voluntary

question 185

Multiple Choice

Which of the following is the best example of a voluntary export restraint?

• A)a limit imposed by the U.S. government on the number of cell phones that the United States can import from Korea
• B)a subsidy granted by the U.S. government to domestic cell phone manufacturers so they can compete more effectively with foreign cell phone manufacturers
• C)a limit set by the Korean government on the number of cell phones that the United States can import from Korea
• D)a $50 per-cell phone fee imposed on all cell phones imported into the United States

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Definitions:

Informal Rule Making

A process by which regulatory agencies create and issue rules through a less formal process than formal rulemaking, often involving public notice and comment.

Formal Rule Making

A process by which federal agencies create new regulations, involving publication of a proposed rule, a period for public comment, and the issuance of a final rule.

Congressional Review

A process by which Congress can nullify new federal regulations by passing a joint resolution of disapproval.

Captured Agency

A regulatory agency that, instead of serving the public interest, acts in favor of the industries it is supposed to regulate.