Question

Individuals who spend resources to influence public policy in a way that will re-distribute income to themselves are:________.

a. rent seeking.
b. engaging in collusion.
c. minimizing explicit costs.
d. stabilizing the economy.

Answer 1

A. rent seeking.

Step-by-step explanation:

Rent seeking: It is an economic concept of spending money on lobbying for getting an advantage in government policies in order to create more wealth out of it or impose a restriction on rivals or increase market share. It is called "rent-seeking" as entity pay money in return for the benefit they receive in manipulating the government policies. It hurt the equality in society in the process of economic growth.