Question 9 (1 point)
An example of Rent Seeking would be:
o A) orange growers in Florida and California getting a tax placed on the import of oranges so that they can raise their prices due to the resulting shortage
o B) Landlords attempting to get control of government owned buildings in order to extract rent from government agencies.
o C) entrepreneurs outwitting existing firms by providing better customer service and prices to consumers.
o D) inventors coming up with new products that consumers desire and then charging high prices for those goods.
Question 10 (1 point)
Rent Seeking is illegal because:
o the only way to get a government official to change the rules to help your industry is to bribe them.
o it is illegal for the government to do things that are economically inefficient.
o it is illegal for government officials to rent out government owned property for their own private gain.
o The premise of the question is false. Rent Seeking is perfectly legal since it works through the normal process of petitioning our elected leaders to do things which are themselves legal.
