1. Is the opportunity cost of attending this class the same for each one of you? Why or why not. 2. Is it possible for a person to incur an opportunity cost without spending any money? Explain. 3. Discuss the opportunity costs of attending college for four years. Is college more or less costly than you thought it was? Explain. 4. A friend pays for your lunch. Is this an example of a "free lunch"? Why or why not? 5. A layperson says that a proposed government project simply costs too much and therefore shouldn't be undertaken. How might an economist's evaluation be different? 6. Why do people/firms/countries enter into exchanges? Example it with absolute and comparative advantages. 7. When two individuals enter into an exchange, you can be sure that one person benefits and that the other person loses. Do you agree or disagree with this statement? Explain your answer. 8. Explain the differences between positive economics and normative economics and microeconomics and macroeconomics by providing examples in each? 9. Describe how an increase in the number of illegal immigrants entering the country would affect the U.S. PPF. 10. Describe how a war that takes place on U.S. soil would affect the U.S. PPF. 11. Describe how the discovery of a new oil field would affect the U.S. PPF. 12. Can a technological advancement in sector X of the economy affect the number of people who work in sector Y of the economy? Explain your answer.