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Ch 15: Inflows, Outflows, and Restrictions

About This Chapter

Watch video lessons on inflows, outflows, and restrictions to learn about trade restrictions, tariffs, and more. Take the quizzes that follow each lesson to test your knowledge of these important macroeconomics concepts.

Inflows, Outflows, and Restrictions

You probably know that an international business market exists and that a country's exporting power is connected in some way to its prosperity. But are you familiar with specific, in-depth information about exports? Do you know what a 'net export' is? These lessons deal with international trade, including imports and exports.

Chances are good that you're familiar with the concept of imports and exports. The computer you're using right now may have been imported from Asia, and the car you aspire to own some day might come from Europe. These are all goods that are exported from overseas and imported into the U.S. It might not surprise you to find out that imported goods have an impact on domestic prices, but are you familiar with the specifics of this interaction? In these lessons, you'll learn about tariffs and quotas, which are related to imported goods and domestic prices.

Finally, you'll learn about trade restrictions. When it comes to economics, the word 'trade' means something a bit more complicated than the lunchroom sandwich-for-cookies trades you probably performed as a kid. Trade restrictions have serious, far-reaching impacts, including on the foreign labor force.

These lessons should help you understand the ins and outs of the global economy, deepening your understanding of macroeconomics. To make sure you've fully absorbed the presented information, take the quizzes that accompany each video lesson in this chapter.

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