Some of the nation's best minds are occupied with devising schemes to avoid taxes and to transfer income to favored groups at the expense of market efficiency.These activities are called
A)rational ignorance
B)choice of the cyclical majority
C)rent seeking
D)competing interest legislation
E)a zero-sum game

Question

Quizplus · Accepted Answer

Rent seeking refers to the pursuit of wealth through political means, such as lobbying for subsidies or tax breaks, rather than through market competition. This leads to a misallocation of resources and undermines market efficiency. Therefore, the nation's best minds being occupied with such activities is a clear example of rent seeking.

Some of the Nation's Best Minds Are Occupied with Devising