Lobbying the government to place harsh tariffs on imports is a form of:
A) competition.
B) market failure.
C) deregulation.
D) rent seeking.
E) natural monopoly.

Question

Quizplus · Accepted Answer

Lobbying the government to place harsh tariffs on imports is a form of rent-seeking, which involves using political power to gain economic advantages or privileges. It is an attempt by certain groups or industries to tilt the playing field in their favor and protect themselves from foreign competition, rather than improving their products or services in the marketplace.

Lobbying the Government to Place Harsh Tariffs on Imports Is