1. Briefly identify and state the significance of each of the following to the history of economic thought: Thomas Mun, England's Treasure by Forraign Trade, Gerard Malynes, Charles Davenant, Jean Baptiste Colbert, Sir William Petty, and Political Arithmetick.

2. Comment on the following statement: Mercantilism is as much a set of observed policies as it is a truly unified economic doctrine set forth by major scholars.

3. Why are mercantilists sometimes referred to as bullionists? Incorporate each of the following in your answer: exports, imports, colonies, war, tariffs, state-chartered monopolies, colonialism, large populations, free internal trade.

4. Why did the mercantilists favor large populations and low wages? How does the mercantilists' position on this issue relate to income and substitution effects of a wage rate increase? What advantages did Petty ascribe to large populations?

5. What is meant by the term fear of goods as it relates to international trade? Is it consistent to favor the free exchange of goods within a nation but to support trade restrictions on imported products? Who benefits from such restrictions? Who loses?