Which of the following is true? a. The incentives to engage in rent-seeking activities increase with the ease with which the political process can provide personal gain at the expense of others. b. The amount of resources devoted toward rent seeking generally has no impact on the economic prosperity of a nation. c. Income transfers directed toward the poor constitute about half of all income transfers in the United States. d. Both logrolling and pork-barrel legislation make it more difficult for special-interest projects to gain legislative approval.
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"Rent-seeking" refers to a. the actions of individuals who spend resources to influence public policy in the hope of transferring income to themselves from others. b. the fact that the deadweight loss triangle is a genuine cost of monopoly. c. trying to lower rent that is paid on a factory in order to lower fixed costs. d. trying to pay the lowest rent possible for an apartment or house.
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