Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 5 - Government's Role and Government Failure - Discussion Questions: 3

Answer

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Rent seeking describes the manner in which people try to influence policy so that they can economically benefit. For instance, companies will often hire lobbyists to try to convince people in congress to make laws that will make making money easier for them.
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