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Question 3 To the extent that special-interest groups engage in rent seeking, they are guilty of tax evasion tend to make the economy more efficient support legislation transferring wealth to themselves only if the measure increases the economy's overall efficiency shift resources from endeavors that create income to activities that simply transfer income tend to increase the economy's total output of goods and services while redistributing income

Question 3 To the extent that special-interest groups engage in rent seeking, they are guilty of tax evasion tend to make the economy more efficient support legislation transferring wealth to themselves only if the measure increases the economy's overall efficiency shift resources from endeavors that create income to activities that simply transfer income tend to increase the economy's total output of goods and services while redistributing income

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Rent seeking reduces our economy's overall efficiency by getting government to adopt legislation that actually reduces production disseminating market information lowering taxes getting voters more interested in politics O reducing equity Question 3 To the extent that special-interest groups engage in rent seeking, they are guilty of tax evasion tend to make the economy more efficient support legislation transferring wealth to themselves only if the measure increases the economy's overall efficiency shift resources from endeavors that create income to activities that simply transfer income tend to increase the economy's total output of goods and services while redistributing income Question 4 A large U.S. steel firm wants to restrict imports of Japanese steel, but Ford Motor Company wants fewer restrictions on steel so that the price of steel will go down. This can best be described as a zero-sum game a competing-interest situation a special-interest situation a situation without widespread costs and benefits an argument over distribution of a public good
Transcribed Image Text:Rent seeking reduces our economy's overall efficiency by getting government to adopt legislation that actually reduces production disseminating market information lowering taxes getting voters more interested in politics O reducing equity Question 3 To the extent that special-interest groups engage in rent seeking, they are guilty of tax evasion tend to make the economy more efficient support legislation transferring wealth to themselves only if the measure increases the economy's overall efficiency shift resources from endeavors that create income to activities that simply transfer income tend to increase the economy's total output of goods and services while redistributing income Question 4 A large U.S. steel firm wants to restrict imports of Japanese steel, but Ford Motor Company wants fewer restrictions on steel so that the price of steel will go down. This can best be described as a zero-sum game a competing-interest situation a special-interest situation a situation without widespread costs and benefits an argument over distribution of a public good
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