Question

Which of the following would be considered an example of rent seeking? A. lobbyists securing spending policies that benefit their cause at the expense of taxpayers B. politicians trading favors that do not benefit the mass populace of voters C. when overregulation prevents the introduction of new drugs that could help critically ill patients D. when economically justifiable programs are rejected because the benefit isn't immediately seen

Answer 1

I think the correct answer would be politicians trading favors that do not benefit the mass populace of voters. Rent seeking is a practice that involves the use of public policy in order to get benefit from it like increasing their benefits in the expense of other. This oftentimes done by a number of politicians.