ATARMAxxing · VCE Economics revision notes
Trade Liberalisation & Evaluating AS Policies
Unit 4 AOS2 — Aggregate supply policies
What this note covers
- Trade liberalisation as an aggregate supply policy
- Worked application: from a tariff cut to the AD–AS diagram
- Evaluating trade liberalisation: strengths, weaknesses, verdict
- AS policies versus AD policies: targets, trade-offs, time horizons
- Implementation lags and other constraints on AS policy
- Exam craft: writing high-mark policy evaluation answers
6 sections · 14 key terms & formulas · 6 common mistakes
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