Rent seeking is the actions of
A) individuals and groups who spend resources to influence public policy in the hope of redistributing income to themselves from others.
B) a subset of the population that hold intense preferences for a particular government service.
C) some citizens who choose not to acquire information because the costs of acquiring the information are greater than the benefits.
D) politicians who exchange votes to gain support for their own legislation.

Question

Quizplus · Accepted Answer

Rent seeking refers to the actions of individuals or groups who use their resources to influence public policy in their favor, with the goal of redistributing income from others to themselves. This often involves lobbying politicians or engaging in other forms of political activity to gain favorable treatment or privileges. It is a common problem in many economies, as it can lead to economic inefficiency and reduced overall welfare.

Rent Seeking Is the Actions of