When considering rent seeking, which of the following is true?

Question

Quizplus · Accepted Answer

Rent seeking is the use of resources to obtain economic gain from others without reciprocating any benefits to society. In the case of free trade, those who benefit from protectionist policies will have an incentive to lobby the government to maintain those policies, even if it is not in the best interest of society as a whole. Therefore, the anti-free trade group is more likely to engage in rent-seeking behavior and lobby the government to maintain tariffs or other protectionist measures. The pro-free trade group is more likely to argue that such measures are harmful to society and therefore less likely to engage in rent-seeking behavior.

When Considering Rent Seeking, Which of the Following Is True