QUIZ through first chapter in Wheelan and first two chapters in Colander

POSSIBLE ESSAY QUESTIONS:

Questions from Wheelan:

1. What, for Wheelan, is the unique way that economists view the world?

2. Who feeds Paris?

3. What do individuals maximize?

4. What do firms maximize?

5. Why should we allow that silly fool to buy a doggy birthday cake?

Questions from Colander:

1. What will happen if American innovation does not develop new industries?

2. What is the law of “one price”? Why hasn’t the U.S. been subjected to it?

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