Which of the following is descriptive of rent-seeking?
A)A domestic company hires a lobbyist to go to Washington, D.C. and try to influence legislators to impose tariffs on Brazilian (imported)goods that compete with the good it produces.
B)Company X hires an accountant to work for it.
C)Jill pays her apartment rent a few days late each month and usually ends up having to pay a late fee.
D)This year Bob earned a large profit from the small business he owns and operates.

Question

Quizplus · Accepted Answer

Rent-seeking refers to using resources to obtain economic gain through non-productive means, such as lobbying for government interventions or subsidies. In this case, the domestic company is using a lobbyist to try to gain an advantage over Brazilian imports, rather than improving its own products or production processes.

Which of the Following Is Descriptive of Rent-Seeking