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Business, 31.03.2020 00:28 BlueWaaaazzzBerry

Which of the following statements refers to rent seeking? "There is an opportunity cost whenever the federal government spends tax revenue. For example, an additional $1 billion spent on national defense means there will be less revenue for highway construction and maintenance or some other program." "Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws." "The role of the federal government in the U. S. economy grew significantly after the Great Depression. Government spending and taxes are a much greater proportion of total income today than they were in 1929." "The federal government should spend more money on programs that help low income citizens and less money on national defense."

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Which of the following statements refers to rent seeking? "There is an opportunity cost whenever the...

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