When considering rent seeking, which of the following is TRUE?
A) The anti-free trade group generally will lobby more than the pro-free trade group.
B) The pro-free trade group generally will lobby more than the anti-free trade group.
C) Usually only the anti-free trade group is concerned about what is best for society at large.
D) Only the pro-free trade group is concerned about the government's revenue from tariffs.

Question

Quizplus · Accepted Answer

Rent seeking often involves groups lobbying for regulations or policies that restrict competition and create market advantages for themselves. The anti-free trade group is more likely to lobby for protectionist measures, such as tariffs and quotas, which restrict free trade to protect domestic industries. This is a form of rent seeking because they are seeking to gain economic benefits through political influence rather than through market competition.

When Considering Rent Seeking, Which of the Following Is TRUE