Rent seeking is
A) when consumers search for the lowest possible rent on housing.
B) illegal in the U.S.
C) what regulators do to improve their chances of getting jobs in the regulated industry after they leave government service.
D) where firms expend effort and money to profit from government actions.
D
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Which of the following events would most likely cause the nominal interest rate to fall?
a. A decrease in the supply of loanable funds b. An increase in the demand for loanable funds c. An increase in the supply of loanable funds and an increase in the demand for loanable funds d. An increase in the supply of loanable funds and a decrease in the demand for loanable funds e. A decrease in the supply of loanable funds and an increase in the demand for loanable funds
A country is most likely to have a comparative advantage in the production of cars if:
A. it has strict environmental protection laws governing automobile emissions. B. its citizens prefer driving cars to other forms of transportation. C. it imports most of the raw materials necessary to produce cars. D. it has a relative abundance in the natural resources needed to produce cars.
Market economies are distinguished from other types of economies largely on the basis of
a. the political affiliations of government officials. b. the process by which government officials are elected or appointed. c. the ways in which scarce resources are allocated. d. the number of retail outlets available to consumers.
When the percentage change in quantity demanded is numerically less than the percentage change in price, ceteris paribus, demand is:
a) Inelastic. b) Elastic. c) Perfectly elastic. d) Unitary elastic.