1. Outline the trends in Australia's protection levels over recent decades.
2. Explain the government's main objectives in reducing protection levels.
3. Distinguish between a bilateral trade agreement and a multilateral trade agreement. Give two examples of each type of trade agreement that Australia is involved with.
4. Outline the impacts of reduced protection on economic growth, unemployment and inflation in the Australian economy.
5. What will be the short term and long term effect of reducing tariffs on government revenue and expenditure.
6. Discuss the impact on Australian exporters when foreign governments increase protection.
7. How has the level of subsidies in foreign agricultural industries caused structural change in the Australian agricultural industry.
8. Outline possible future changes in the Australian economy as a result of current trends in the global economy. Give specific examples.
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