Problem
1. Is the assumption of self-interested behaviour on the part of individuals to be taken literally, or treated as a useful approximation? If the latter, how would you decide whether it is useful or not?
2. Discuss the relevance of the idea behind the Laffer curve - namely, that beyond a certain tax rate revenue will fall as the tax rate rises - to the design of sales taxes, income taxes, or property taxes.
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.