Rent seeking
A) is the act of obtaining special treatment by the government to create economic profit.
B) is the attempt to get rent from tardy renters.
C) occurs when landlords advertise for apartments and other property for rent.
D) is an attempt to sell a property and capture economic profit.
E) occurs when a firm charges different prices for different units of its good or service.
A
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When the Federal Reserve wants to slow inflation, it
A) lowers the federal funds rate. B) increases taxes on interest income. C) raises the federal funds rate target. D) increases aggregate income, output, and employment. E) cuts the federal funds rate target aggressively to almost zero.
If productivity growth equals 3.0 percent, the contribution from capital growth 1.2 percent and the contribution from labor growth 2.0 percent, then output growth must equal ________
A) 2.2 percent B) 4.2 percent C) 6.2 percent D) 7.2 percent