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Once consequence of income inequality is that high income individuals might engage in rent-seeking behavior. What...

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Economics

Once consequence of income inequality is that high incomeindividuals might engage in rent-seeking behavior. What isrent-seeking behavior and why is it bad for an economy?

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Rent seeking behaviour can be defined as an activity in which one person or entity increases its share of wealth and in return doesnt add or create new wealth in the economy For example When an    See Answer
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