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- Analyze comparative advantage in terms of
Opportunity Cost (activity #56)
illustrate using graphs (PPC) (activity #57)
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- Flexible or "floating" exchange rates
(supply & demand). (Must be able to interpret
graphs showing currency relationships)
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- Analyze & Evaluate case for Free Trade
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- Changes in exchange rates & their effect on
imports & exports (activity #53)
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- Analyze & Evaluate Protectionism (vis.
6.6)
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- Must understand the graphs (labeling of axis)
in activity #62
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- Use Supply & Demand curves to analyze the
economic effects of tariff (vis. 6.4)
and
a quota (vis. 6.5)
(activity #51)
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- Impact of Monetary & Fiscal Policies on exchange
rates & how they affect interest rates, price levels,
Unemployment, & Output (GDP)
(activity #54)
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