- Define price ceilings and price floors
- State the effects of a price ceiling that is below the equilibrium price
- State the effects of a price floor that is above the equilibrium price.
- Use a supply and demand graph to illustrate some of the effects of ceilings and floors.
- Chapter 6: Introduction & section 6-1
- This article gives some good illustrations of the effects of trade restrictions.
- This article on what happened to Argentina when it imposed trade restrictions.
- Watch Khan on comparative advantage and trade (8:55)
- Is nothing the best response to China’s theft of intellectual property? This podcast from Planet Money says, “Yes”.
- A podcast from Planet Money on the WTO. Can’t live with it, hard to crush your trade opponents without it.