Rent-seeking behavior refers to
A. a transfer of knowledge between private and public sectors.
B. companies that try to increase profit by cutting costs or improving products.
C. companies that spend money on influencing government rather than on profit-increasing strategies.
D. consumer real estate studies that focus on renting versus buying.
Answer: C
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A futures contract
A. gives the owner the right, but not the obligation, to buy shares of a stock at a specified price within the time limits of the contract. B. gives the owner the right, but not the obligation, to sell shares of a stock at a specified price within the time limits of the contract. C. is a contract in which the seller agrees to provide a particular good to the buyer on a specified future date at an agreed-upon price. D. gives the owner the right, but not the obligation, to buy or sell shares of a stock at a specified price within the time limits of the contract.
The formula C + I + G + EX - IM is the ________ to calculating GDP.
A. value-added approach B. income approach C. expenditure approach D. only accurate approach
What does the term "marginal" mean in economics?
A) the edge of a market B) secondary C) an additional or extra D) trivial E) illegal
Suppose you purchase a bottle of vitamin water with a price of $3. The price of $3 best reflects the function of money as a ________, and when you take $3 out of your wallet to purchase the bottle, money is functioning as a ________
A) medium of exchange; standard of deferred payment B) store of value; unit of account C) unit of account; medium of exchange D) medium of exchange; store of value