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wariber [46]
3 years ago
10

Which of the following statements refers to rent seeking? "There is an opportunity cost whenever the federal government spends t

ax revenue. For example, an additional $1 billion spent on national defense means there will be less revenue for highway construction and maintenance or some other program." "Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws." "The role of the federal government in the U.S. economy grew significantly after the Great Depression. Government spending and taxes are a much greater proportion of total income today than they were in 1929." "The federal government should spend more money on programs that help low income citizens and less money on national defense."
Business
2 answers:
makvit [3.9K]3 years ago
5 0

Answer: "Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws."

Explanation: Rent seeking is an economic concept that revolves around government-funded social services and social service programs. It occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity.

Rent seeking can be said to be a process of obtaining economic rent by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.

An example of rent seeking is when

Laws passed by the federal government which often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws.

puteri [66]3 years ago
3 0

<u>Answer:</u>

<u><em>Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws</em></u>

<u>Explanation</u>:

When individuals or firms cunningly try to get benefits from government at the detriment of others it term rent seeking.

Implying they seek shelter under this laws that benefit them the most.

For example, certain tax laws may favor the weather citizens of a country and they (the wealthier citizens) may take advantage of that.

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Answer:

The correct option is<em> "A." which is  "believed that the free market assured personal freedom."</em>

The Young Americans for Freedom was based on the<em> Sharon Statement.</em>

<em></em>

Explanation:

<em>The Young Americans for Freedom (YAF) </em><em>is an ideologically conservative youth activism organization that was founded in 1960 as a coalition between traditional conservatives and libertarians on American college campuses.</em>

<em />

<em>The summary of the Core Principles of the Sharon Statement are:</em>

  • <em>    Individual freedom and the right of governing originate with God;</em>
  • <em>    Political freedom is impossible without economic freedom;</em>
  • <em>    Limited government and strict interpretation of the Constitution;</em>
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8 0
2 years ago
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Jessica has just opened a shoe store. To operate her business, she orders her
trapecia [35]

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The answer is C

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3 years ago
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A new labor-saving technology will likely result in..... Group of answer choices Lower wage share of output and lower Gini coeff
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Answer:

Higher unemployment, lower wage share of output, and higher Gini coefficient in the long run.

Explanation:

Since less labor will be used, total unemployment will increase. Besides less labor being used, more capital will be used, so the share of labor in total output will decrease. Labor efficiency increases, since you need less labor to produce the same or even a larger amount of output.

New technologies tend to increase the wages of high skilled labor and management. Since the Gini coefficient measures income inequality, then higher wages for a few will increase inequality.  

This is an example of what is happening in the US, where highly trained labor is getting paid better every time while unskilled labor is getting paid the same as many years ago or their wage has even decreased with time. This shows how important a college education is, and the difference will only keep increasing.

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2 years ago
At a growth (interest) rate of 8 percent annually, how long will it take for a sum to double? To triple? Use Appendix A for an a
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Answer:

n =   ㏒ P ÷ ㏒ (1.08)

Explanation:

Compound interest rate

A = P × (1 + r)^{n}

where

P = principal amount (the initial amount you borrow or deposit)

r  = annual rate of interest (as a decimal)

A = amount of money accumulated after n years, including interest.

n  =  number of years

Since we want the principle amount to double i.e., A = 2P

put this in above equation

2P = P × (1 + r)^{n}

divide both sides by P, we get

P = (1 + r)^{n}

put r = 0.08

P = (1 + 0.08)^{n}

P = (1 .08)^{n}

Taking log on both sides

㏒ P =㏒ (1 .08)^{n}

㏒ P = n ㏒ (1.08)

n =   ㏒ P ÷ ㏒ (1.08)

8 0
2 years ago
Cook Co. determined that the net value of its accounts receivable at December 31, 20X4, based on an aging of the receivables, wa
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$9,000

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  Bad Debts Written off                                 $22,000

 Uncollectible accounts-recovered             $(8,000)

 Allowance for doubtful accounts reversed

 (opening-closing $40,000-$35,000*)        ($5,000)

Bad Debt Expense for the year                    $9,000

*270,000-235,000  =35,000                        

7 0
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