Individuals who spend resources to influence public policy in a way that will redistribute income to themselves are
A)stabilizing the economy.
B)rent seeking.
C)engaging in collusion.
D)minimizing explicit costs.

Question

Quizplus · Accepted Answer

Rent seeking is the activity of individuals or businesses that spend resources to influence public policy in a way that will redistribute income or wealth to themselves without creating new wealth or benefits for society. This often involves lobbying for special privileges, such as subsidies or tariffs, that benefit them at the expense of others.

Individuals Who Spend Resources to Influence Public Policy in a Way