Asked by Danielle Hatch on Jun 19, 2024
Verified
Industries that lobby public officials for favorable treatment, softer regulation, and or antitrust exemption are engaged in rent-seeking.
Rent-Seeking
The practice of gaining economic benefits through manipulation or exploitation of the political environment rather than through traditional economic competition.
Antitrust Exemption
Legal provisions that allow certain industries or companies to avoid full compliance with antitrust laws, often justified by arguments of national interest or market efficiency.
- Identify and describe examples of rent-seeking behavior.
Verified Answer
MA
Maheswar AjaykumarJun 22, 2024
Final Answer :
True
Explanation :
Rent-seeking refers to the practice of individuals or businesses attempting to gain economic advantage without reciprocating any benefits back to society through wealth creation, often through lobbying for favorable treatment, softer regulation, or antitrust exemptions.
Learning Objectives
- Identify and describe examples of rent-seeking behavior.
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