Economists talk about trade-offs a lot because they have come to understand that whenever there is a winner from a policy or transaction, there must also be a loser.

Answer the following statement true (T) or false (F)

False

Rationale: One of the fundamental lessons of economics is that there are many situations when everyone can win.  In a willing trade (i.e., I pay $2 for a cappuccino to the coffee shop owner), no one is hurt, and both of us are better off.