1. Provide specific examples at least 3 of critical goods and 1 critical service. The would be things that every person needs to survive.

2. Where does the US Economy rank in Economic Freedom? (Refer to the table 1.1 in the Chapter 1) Note whether or not you find the ranking surprising. The book shows the ranking for 2016. Please check the website https://www.heritage.org/index/ranking to get the most recent year available. Comment on how the US has moved up or down in the ranking in the past few years.

Most Economic Freedom Least Economic Freedom 1. Hong Kong 167. Timor-Leste 2. Singapore 168. Democratic Republic of Congo 3. New Zealand 169. Argentina 4. Switzerland 170. Equatorial Guinea 5. Australia 171. Iran 6. Canada 172. Republic of Congo 7. Chile 173. Eritrea 8. Ireland 174. Turkmenistan 9. Estonia 175. Zimbabwe 10. United Kingdom 176. Venezuela 11. United States 177. Cuba 12. Denmark 178. North Korea Table 1.1 Economic Freedoms, 2016 (Source: The Heritage Foundation, 2016 Index of Economic Freedom, Country Rankings, http://www.heritage.org/index/ranking)Country 2010 2011 2012 2013 2014 2015 Higher Income Countries United States 12.4 13.6 13.6 13.5 13.5 12.6 Belgium 76.2 81.4 82.2 82.8 84.0 84.4 Canada 29.1 30.7 30.0 30.1 31.7 31.5 France 26.0 27.8 28.1 28.3 29.0 30.0 Middle Income Countries Brazil 10.9 11.9 12.6 12.6 11.2 13.0 Mexico 29.9 31.2 32.6 31.7 32.3 35.3 South Korea 49.4 55.7 56.3 53.9 50.3 45.9 Table 1.2 The Extent of Globalization (exports/GDP) (Source: http://databank.worldbank.org/data/)