Unproductive actions designed to increase income or wealth are known as:
a. transfer payments.
b. incorporation.
c. profit seeking.
d. income search.
e. rent seeking.
e
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Why don't some firms in monopolistic competition earn losses in the long run?
A) The firms have enough monopoly power to ensure they always earn profits. B) Free entry allows enough firms to remain in the market and maintain the critical mass of firms required to attract customers. C) Free exit implies that any unprofitable firms leave the market in the long run. D) In the long run, firms will build enough brand loyalty among customers to ensure a profitable level of sales.
To counter the negative effects of the Great Recession, the U.S.
A. induced implosions in deficits through fiscal policies. B. increased the long-term interest rate to 8 percent. C. induced explosions in deficits through fiscal policies. D. reduced the inflation rate to zero.