Rent seeking is the actions of
A) individuals and groups who spend resources to influence public policy in the hope of redistributing income to themselves from others.
B) a subset of the population that hold intense preferences for a particular government service.
C) some citizens who choose not to acquire information because the costs of acquiring the information are greater than the benefits.
D) politicians who exchange votes to gain support for their own legislation.
A
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The Fed may also lend to insolvent banks, rather than winding them down, in order to:
A. keep financial markets guessing about its strategy. B. address the problem of systemic risk. C. keep the money supply from falling too much. D. secure politically powerful allies.
An example of household production excluded from GDP is
A) household cleaning services provided by Merry Maids Incorporated. B) child care provided by a certified nanny. C) tree trimming you provide at your parents' home. D) plumbing work completed by Joe Fix-it. E) lawn care provided by a local lawn care company.