An example of Rent Seeking would be: A) orange growers in Florida and California getting a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
An example of Rent Seeking would be: A) orange growers in Florida and California getting a tax placed on the import of oranges so that they can raise their prices due to the resulting shortage. Landlords attempting to get control of government owned buildings in order to extract B) rent from government agencies. entrepreneurs outwitting existing firms by providing better customer service and C) prices to consumers. inventors coming up with new products that consumers desire and then charging high D) prices for those goods. Save Question 10 (1 point) Rent Seeking is illegal because: the only way to get a government official to change the rules to help your industry is to bribe them. it is illegal for the government to do things that are economically inefficient. it is illegal for government officials to rent out government owned property for their own private gain. The premise of the question is false. Rent Seeking is perfectly legal since it works through the normal process of petitioning our elected leaders to do things which are themselves legal. 4 An example of Rent Seeking would be: A) orange growers in Florida and California getting a tax placed on the import of oranges so that they can raise their prices due to the resulting shortage. Landlords attempting to get control of government owned buildings in order to extract B) rent from government agencies. entrepreneurs outwitting existing firms by providing better customer service and C) prices to consumers. inventors coming up with new products that consumers desire and then charging high D) prices for those goods. Save Question 10 (1 point) Rent Seeking is illegal because: the only way to get a government official to change the rules to help your industry is to bribe them. it is illegal for the government to do things that are economically inefficient. it is illegal for government officials to rent out government owned property for their own private gain. The premise of the question is false. Rent Seeking is perfectly legal since it works through the normal process of petitioning our elected leaders to do things which are themselves legal. 4
Expert Answer:
Answer rating: 100% (QA)
1 C entrepreneurs outwitting existing firms by providing better customer service and prices to c... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
During 2004, orange growers in Florida experienced three hurricanes. As a result, the amount of oranges harvested in Florida was smaller than usual. Orange growers in other states experienced normal...
-
Insurance companies carefully track claims histories so that they can assess risk and set rates appropriately. The National Insurance Crime Bureau reports that Honda Accords, Honda Civics, and Toyota...
-
Companies calculate overhead rates so that they can have a more accurate estimate of the cost of production. Manufacturing overhead is often a significant component of production cost. The following...
-
Provide an overview of the OS and the manufacturer What is the footprint for the selected OS? What security architecture was implemented? How many CVEs does this OS have?
-
Morgan Company grows various crops and then processes them for sale to retail-ers. Morgan has changed its depreciation method for its processing equipment from the double- declining- balance method...
-
Cruxs inventory turnover ratio computed as of December 31, 2018, after the adjustments suggested by Groff , is closest to: A . 5.67. B . 5.83. C . 6.13. Robert Groff , an equity analyst, is preparing...
-
Tyler Company reported the following costs on its financial statements (in thousands): REQUIRED: Using the reserve disclosure for Tyler Company in problem 13 and the data presented in this problem,...
-
Nature Cosmetics Company applies overhead costs on the basis of machine hours. The overhead rate is computed by analyzing data from the previous year to determine the percentage change in costs....
-
2. (24 Points) Find out the number of real roots of the cubic equation 23-6x+1=0. Justify your answer.
-
Go to the Webinars worksheet. DeShawn wants to determine the number of webinars the company can hold on Tuesdays and Thursdays to make the highest weekly profit without interfering with...
-
The price in dollars of a house during a period of mild inflation is described by the formula P(t) = 80,000e-05t, where t is the number of years after 1990. a. How many dollars per year will the...
-
John is a new pharmacist at XYZ Pharmacy. John noticed that the pharmacy kept the C-II drugs on the shelf interspersed with other drugs. All the other pharmacies where John had worked kept the C-IIs...
-
Mary decided to open a new pharmacy in a growing town. She applied for a pharmacy license from the state board, but is not sure how to get a DEA registration. She would like to open the pharmacy as...
-
Describe a situation you have experienced or observed in which a conversation on an emotion-provoking topic grew uncivil. Explain how following the guidelines on pages 383-385 could have kept the...
-
Sue is a pharmacist at Small Town Pharmacy that is registered with the DEA as a dispenser. Occasionally, other local pharmacies that run out of controlled substances request to purchase them from Sue...
-
Using the state pharmacy laws and rules from your state, what are the specific CE requirements for pharmacists and ancillary pharmacy personnel?
-
Tuity Fruity Beverage Company's operating activities for the year are listed below. Purchases...... Operating expenses.. Beginning inventory... Ending inventory. Sales revenue......................
-
What is taxable income, and what is the formula for determining taxable income?
-
Bob is a lawyer with a large law firm. He is very good at preparing briefs and also is very good at typing. Bob's legal assistant Tom can prepare 1 legal brief in two hours and Bob can prepare 1...
-
List the sources of bias in the CPI that are discussed in the text and give a brief explanation of each.
-
The table below gives some of the items in the U.S. National Income and Product Accounts in 1995. Suppose the statistical discrepancy equals $0. Item Amount (trillions of dollars) Consumption...
-
Martin Galloway, the sole proprietor of a consulting business, has gross receipts of $45,000 in 2017. His address is: 1223 Fairfield Street, Westfield, New Jersey and his SSN is 158-68-7799. Expenses...
-
Probest Corporation (a calendar-year corporation) purchased and placed the following assets in service during the year All assets are used 100 percent for business. $100,000 of the cost of the...
-
In May 2016, Jose purchased a used automobile for $12,000 and used it 75 percent for business. No Section 179 election was made for this asset. In 2017, Joses business use of the automobile decreased...
Study smarter with the SolutionInn App