1. A road map incorporates two unrealistic assumptions: (1) _____ and (2) ____________.
2. The four elements of the economic way of thinking are (1) use ______ to simplify the analysis, (2) explore the relationship between two variables by________, (3) think at the _______, and (4) rational people respond to ______.
3. Which of the following is the Latin expression meaning other things being held fixed?
a. Setiferous proboscis
b. Ceteris paribus
c. E pluribus unum
d. Tres grand fromage
4. The experiment in the Chinese factory suggests that the fear of a loss provides a ____ incentive than the prospect of a gain.
5. The economic approach to spam is to follow the lead of and ______ establish a ______ for e-mail.
6. True or False: Adam Smith suggested that people are motivated solely by self interest.