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VLD [36.1K]
3 years ago
14

Which of the following would be considered an example of rent seeking? A. lobbyists securing spending policies that benefit thei

r 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
Business
1 answer:
maks197457 [2]3 years ago
4 0
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.
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In​ 2015, the Washington Nationals baseball team signed pitcher Max Scherzer to a contract to play for them for seven years. He
Salsk061 [2.6K]

Answer: D. The actual value of the contract is less than $30 million for each year he plays.

Explanation:

Given that Mark sherzer will be paid $15 million per year for 14 years reflects a contract whose value at the time of signing is ($15 million × 14) = $210 million. However, the payment would not be paid at the of signing but spread over a period of 14 years with $15 million being splashed out annually. However, considering the time value of money, whereby the present value of a fixed amount decreases with time. Hence in actual sense, the $210 million face worth of the contract will actually be less than $30 million [$210/7(playing years)] as time progresses on the fixed amount paid yearly due to reduction in the value of the present value as time progresses.

7 0
2 years ago
If the current price of a product is below the market equilibrium​ price, there is​ ________ of this product.
Svetach [21]

Answer:

Excess demand

Explanation:

The equilibrium price is the price at which demand equals supply.

If price is below equilibrium price, it means the price is lesser than the equilibrium price, therefore the quantity demanded would increase.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

If price is below equilibrium price, the quantity supplied would fall.

I hope my answer helps you.

7 0
3 years ago
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials
Amiraneli [1.4K]

Answer:

$8.20 per pound

Explanation:

The computation of the actual price per pound is shown below:

Material price variance = (Standard price per pound - Actual price per pound) × Actual quantity purchased

-$7,000 = ($8.00 - Actual price per pound) × 35,000

$8.00 - Actual price per pound = -$7,000 ÷ 35,000

Actual price per pound = $8.20 per pound

Hence, the actual price per pound is $8.20 per pound

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
3 years ago
The premium of a health insurance plan refers to the
daser333 [38]
Total Cost of <span>Insurance Coverage

</span>
5 0
3 years ago
Read 2 more answers
What is the range for the relative price of cloth such that the economy produces both cloth and food? From _______ to _______ .
dezoksy [38]

The answer is explained in detail below

Explanation:

a_{KC} = 2

a_{LC} = 2

a_{KF} = 3

a_{LF} = 1

Labor, L = 2000; Capital, K = 3000  

Labour constraint,

2Q_{c} + Q_{F} \leq 2000

Capital constraint ,

2Q_{c} + 3Q_{F} \leq 3000  

Solving the equation further, we get

Q_{F} \leq 2000 - 2Q_{C}

Q_{F} \leq 1000 - \frac{2}{3} Q_{C}

  • The range for the relative price of cloth such that the economy produces both cloth and food is  2/3 and 2
  • Low cloth production → economy will use relatively more labor to  produce cloth → opportunity cost of cloth is 2/3rd units of food.
  • High cloth  production → economy dips on labor → taking capital away from food  production → raising opportunity cost of cloth to 2 units of food.  
  • If relative price of cloth lies between 2/3 and  2 units of food, the economy  produces both goods.
  • If the price of cloth decreases below 2/3 → complete  specialization in food production → low compensation for producing cloth
  • If the price of cloth  rises above 2 → complete specialization in cloth production → low compensation for producing  food
4 0
3 years ago
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