In the context of rent seeking, rents refer to _____. a. ...

[Themember4]

In the context of rent seeking, rents refer to _____.
 
  a. payments made to factors of production for private benefit that do not add anything to social output.
  b. payments made to politicians for private benefit that do not add anything to gross domestic product
  c. payments made to factors of production for private benefit that add to social output
   d. payments made to third parties to find opportunities for lobbying

Question 2

If Bobby thinks that leisure is an inferior good, then his labor supply curve
 
  A) is backward bending.
  B) is always negatively sloped.
  C) is always positively sloped.
  D) does not exist.

[mjenn52]

Answer to Question 1

a

Answer to Question 2

C

[Themember4]

Thank you

[mjenn52]

No problemo