146 Who collects quota rents when the government gives quota licenses to domestic firms?
147 Rent-seeking activities are: landowners' efforts to receive higher returns for their land. (Incorrect) bribery and lobbying activities to obtain quota licenses. (True Answer Correct) foreign suppliers' efforts to reduce quotas. (Incorrect) domestic consumers' efforts to reduce tariffs. (Incorrect)
148 If rent-seeking occurs, then a country's welfare losses from quotas will:
149 If a quota license is awarded to a domestic firm without an auction, it may generate bribes or lobbying spending to earn this revenue. Economists call this a(n) ____ activity.
150 Who collects quota rents when the government auctions quota licenses?