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→Assignment: added question
6. Bad British economic policies and a fungus wiped out the basic food supply of potatoes in Ireland between 1846 and 1849, killing 500,000 and sending many Irish to the United States. Do you think potatoes might have been an “inferior” good then? What would you expect the income effect of the shortage of potatoes to have been?
6. Bad British economic policies and a fungus wiped out the basic food supply of potatoes in Ireland between 1846 and 1849, killing 500,000 and sending many Irish to the United States. Do you think potatoes might have been an “inferior” good then? What would you expect the income effect of the shortage of potatoes to have been?
7. Suppose you are the manager of the New York Giants and you want to draft (select) a college running back to play on your team next year. But the best player available at the time of your draft choice is a quarterback. You already have a good quarterback. What do you do to maximize your value by your selection?
===Honors===
===Honors===