Rent Seeking

question 30

Multiple Choice

Rent seeking

• A) is desired by consumers.
• B) is not a type of competition.
• C) is a type of competition that leads to a market price and output.
• D) is a type of competition that leads to an undesirable outcome.
• E) occurs when resources are used to deregulate a market through the political process.

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Definitions:

Hippocampus

A major component of the brains of humans and other vertebrates, involved in the consolidation of information from short-term memory to long-term memory and spatial navigation.

Prospective Memory

The aspect of memory that involves remembering to perform a planned action or recall a planned intention at some future point in time.

Context-dependent Memory

Context-dependent memory refers to the improved recall of specific information when the context present at encoding and retrieval of the information is the same.

Memory Reconsolidation

The process by which previously consolidated memories are recalled and then stored again for long-term memory.