Problem
1. Evaluate the following statement: "Trade is like football: one team wins and the other loses."
2. Give a personal example of how pursuing your self-interest has made society better off.
3. What role do incentives play in each of the following situations?
a. You learn that you can resell a ticket to next week's homecoming game for twice what you paid.
b. A state government announces a "sales tax holiday" for back-to-school shopping during one week each August
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.