Macro Learning Objectives for questions over Exam 1 Form A

 

PCM

 ECON 2301 MACROECONOMICS   

Chapter 16

Below you will find the learning objective, concept, idea, term, or theory that each question on the exam will cover. The numbers in the list refer to the question number on Exam 4 that will test your knowledge of that specific learning objective. Each of these topics/learning objectives is discussed in the textbook in the order that they are listed below.  A much better understanding can often be attained by working through the "active graphs" and "smart graphs" connected to many of these objectives in the online material.

 
    After reading Chapter 16, you should be able to:
  1. Use the concept of a world price to explain imports and exports.
  2. Use the concept of a world price to explain the gains from trade.
  3. Show graphically how imports and exports affect market price, quantity and the gains from trade.
  4. Discuss the GATT and world-wide trade agreements.
  5. Discuss regional trade agreements.
  6. Discuss tariffs and protectionism.
  7. Use supply and demand to analyze the effects of tariffs on market conditions.
  8. Distinguish among the various barriers to trade that countries might impose.
  9. Assess the arguments for and against protectionist policies.
  10. Examine whether an oil import fee can promote energy security.