The U.S. will
goods if the domestic price is greater than the world price. Importing
goods decreases domestic producer surplus, increases domestic consumer surplus, and
increases total surplus. Imports=Qd-Qs. A
is a tax on imports, and an
a numerical limit on imports. These protectionist policies increase producer surplus, reduce
consumer surplus, reduce total surplus, and cause a DWL. Supply curve shift to right.
=amount of tariff (vertical distance between old and new effective world prices) x
quantity of imports.
Infant industry argument:
protectionism is needed to allow domestic
industries to develop.
protectionism is needed to save domestic
industries from the threat of dumping.
when U.S. firms buy finished goods,
components, or services from other U.S. firms or from firms in other countries.
when U.S. firms produce in other countries using foreign labor or by buying finished goods,
components, or services from firms in other countries.
individuals acting in their own self-interest lobby for policies that are, on net, bad for society.
Creating Your 3”x5” Note Card
As long as
are the one that creates your 3”x5” note card,
you are allowed to use it on an exam.
This can be very
helpful to you, especially if you can manage to get most of
the material on your note card.
Here’s how you make the
Click in the center of the “Front” card to the right.
the text in this box.
Now, you’ll want to change the font.
Now, change the font to anything you
want, as small as you want.
Most printers should be able to
print Arial Narrow, Size 4.
This would be your best bet for
getting the most in this space (with the smallest text).
laser printers may be able to do a 3 point font…try it out a
couple of times to see what you can and can’t read.
If you do make your text small, you will want to change the
amount of space in between lines.
You can do this by
selecting all of your text and going to
FORMAT>PARAGRAPH and changing the “Line Spacing”
option to “Exactly”.
A good rule of thumb is to set the “At:”
setting to the size of your font.
So if you’re using Arial
Narrow 4, set the “At” option to 4.
This will reduce space
between the lines
Then fill in the front and back with the material you want on
At the back of your Smokin’ Notes packet, we
have included some suggestions as to what should go on
Another suggestion: If you have a color printer, put different
ideas in different colors.
This helps you find material on your
card much more easily during the exam.
Remember: you can have a front and back, so fit as much as
you can in there!
Get it as small as you can if you want, but
make sure you can read it.
When you’re done, print it out
and paste or tape it to a 3”x5” index card and you’ll be all
Front of Card
Back of Card