1. Explain how Douglass North's theory of "Institutionalism" , Gregory Clark's theory of the "productivity revolution" and McCloskey/Weber's theory of valuing individual dignity those 3 theories are related together in nowadays in our real life?

2. What are the factors of production and which did the US initially have in abundance and which were scarce?

3. What is rent-seeking behavior? What sorts of firms practice rent seeking?

4. What different forms of currency were used in the early US? What were the advantages and disadvantages of each?

5. Why was the above an issue in our economic development?

6. What is fiat currency?

7. What was the bimetallic standard?

8. Describe the business cycle.

9. How does a central bank help control the business cycle?

10.Why did Thomas Jefferson and Andrew Jackson oppose a central bank for the U.S.? What's our book's opinion of Jefferson's and Jackson's stance?

11. How does the above relate to the Supreme Court case McCulloch vs. Maryland?

12. What is creative destruction?

13. What are economies of scale?

14. What is Industrial Policy

15. Describe government aid to canal and railroad projects.