When governments restrict entry into various markets, impose price controls, and use taxes, subsidies, and regulatory favors
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When governments restrict entry into various markets, impose price controls, and use taxes, subsidies, and regulatory favors to politically direct the allocation of goods and services, how will this influence the gains from trade? How will it influence the degree of rent-seeking by business and labor groups and the campaign contributions available to politicians? Will policies of this type enhance economic growth? Why or why not?
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Related Book For
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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