The 'rent-seeking' behaviour in economics refers to: MCQ with Answer and Explanation

Question
The 'rent-seeking' behaviour in economics refers to:
A. buying real estate
B. earning profit through productive activity
C. paying rent
D. manipulating political or economic environment to obtain benefits without creating wealth
Answer: Option D
Solution (By JKSSB Mock Tests)
Rent-seeking is the pursuit of benefits through manipulation rather than productive activity.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Fisher Effect'?
A. Inflation has no effect on nominal rates
B. The nominal interest rate equals the real interest rate plus expected inflation
C. The real interest rate equals the nominal rate plus inflation
D. Nominal and real rates are always equal
Discuss
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Correct Answer: Option B

Explanation:
The Fisher equation states that the nominal interest rate is approximately equal to the real interest rate plus the expected rate of inflation.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a function of the Securities and Exchange Board of India?
A. Collecting direct taxes
B. Formulating monetary policy
C. Regulating the securities market and protecting investor interests
D. Issuing currency notes
Discuss
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Correct Answer: Option C

Explanation:
SEBI is the regulator of the Indian securities market; its mandate includes protecting investors, promoting the development of the market and regulating market intermediaries.
This question belongs to: Economy GK Economy Set 1
Question #3
Deadweight loss in economics refers to:
A. depreciation of capital
B. loss of revenue to the government
C. loss of total welfare due to market inefficiency
D. loss suffered by a monopolist
Discuss
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Correct Answer: Option C

Explanation:
Deadweight loss is the loss of economic welfare due to inefficiency such as taxes, price controls or monopoly.
This question belongs to: Economy GK Economy Set 1
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