On this assignment, students will answer 30 questions (6 pages) based on two different graphs relating to international trade and tariffs. This assignment will help students better understand the impact of tariffs on international trade and prepare them to answer questions on the AP Microeconomics Exam. While this assignment is designed to cater to AP Micro students, the concepts are appropriate for all levels of high school economics. (Download is a word document).
Consumer and producer surplus, market inefficiencies and deadweight loss, government revenue generated by a tariff, the impact of tariffs on domestic employment, and net gain from trade.