INTERNATIONAL ECONOMIC REGULATION

FINAL EXAMINATION

November 16, 1995

Willam O. Hennessey

DIRECTIONS:

This is a one-hour examination. (1 -112 hours for non-native English speakers) Students are allowed to bring any materials they wish into the examination. Students are not allowed to discuss the questions with one another or ask assistance of one another during the examination. Nor should students comment" or otherwise communicate with one another on the questions at any time during the examination. Answers should be written in an exam booklet. Do not put your name or any other identifying device on your exam booklet -- just your exam number. Do not write "MIP" or "Class of '97" etc. on the booklet. You should keep your answers BRIEF, but there are no page limitations Write on one side of a bluebook page only.
 

Select two (2) of the following four (4) questions (30 minutes for each question):

1. Section 301 of the Trade Act of 1974 (19 USC 2411) draws a distinction between unfair trade practices by countries which are "unreasonable" and those which are "unjustifiable." What is the distinction between the two terms for the purposes of the statute and what are the practical implications of the distinction.

2. A trademark is both a designation of the "source" of a product, the quality of a product, and the goodwill of the "business" marketing the product. Discuss how these various functions of a trademark affect the importation of "gray market goods". Base your discussion on the current interpretation of the trade laws of the United States.

3. Discuss the role of consensus and "reverse consensus" in the establishment of international law within the international trading system of GATT.

4. The principles of "national treatment" and "unconditional most-favored-nation treatment" are central to the GATT. Briefly explain the differences between the two principles, the role each performs in the international trading system, and where, if any, the two may come into conflict with one another.

 
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