The correct answer is Option 4: Quantitative Restrictions
Quantitative Restrictions : Restrictions in the form of total quantities or quotas imposed on imports to reduce balance of payments (BOP) deficit and protect domestic industry.
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Moral Suasion: This is a non-binding approach used by governments or institutions to influence or persuade individuals, businesses, or other entities to act in a certain way. It relies on moral persuasion rather than legal or regulatory measures. For example, central banks might use moral suasion to encourage banks to maintain certain levels of lending or reserves.
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Qualitative Restrictions: These are restrictions that specify standards or conditions that must be met for imports to be allowed. They often pertain to product quality, safety standards, or technical specifications. Unlike quantitative restrictions, which limit the amount or value of goods, qualitative restrictions focus on the characteristics or standards of the goods being imported.
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Import Permits: This system requires importers to obtain authorization from the government before they can bring certain goods into the country.
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