The transformation of something new, such as an invention, into something that benefits the economy is known as
A) an innovation.
B) a patent.
C) an externality.
D) a compounder.
92) New growth theorists believe that
A) wealth creation comes from innovation.
B) wealth creation comes from saving.
C) wealth creation is due to capital spending and not research and development spending since much research and development spending fails to produce an invention.
D) inventions spread very rapidly, thereby curtailing the need for more innovations.
93) Human capital is
A) the saving done by human beings.
B) the knowledge and skills that people in the work force acquire through education and training.
C) a measure of the labour productivity of workers.
D) the investment people make in industries that make capital goods.
94) Paul Romer's theory on the importance of knowledge differs from traditional theory in that
A) Romer argues that an investment-knowledge cycle allows a once-and-for-all increase in investment to permanently raise a country's growth rate, while traditional theory argues that a once-and-for-all increase in investment leads to a higher standard of living but not to a higher growth rate.
B) Romer argues that investment is not important in promoting growth, but that the acquisition of knowledge is the sole determinant of economic growth.
C) Romer argues that an investment-knowledge cycle exists which requires that investment rates keep increasing or else growth rates will fall, while traditional theory argues that growth rates would not fall, although they would not increase either.
D) Romer emphasizes investment rates while traditional theory emphasizes the importance of knowledge as a factor of production.
95) According to economist Paul Romer, economies that wish to experience growth must
A) invest most of their savings in national defense.
B) invest in knowledge.
C) drastically lower their standards of living.
D) become command economies.
96) According to Romer,
A) capital drives economic growth.
B) invention drives economic growth.
C) ideas drive economic growth.
D) government drives economic growth.
97) Population growth generally
A) encourages technological approach which increases economic growth.
B) increases economic growth by stimulating more savings.
C) reduces economic growth because more people are a drain on the limited resources.
D) has no effect on economic growth on average.
98) An example of a cost of economic growth is
A) longer life spans.
B) political instability.
C) environmental disasters.
D) increases in illiteracy.
99) Sustainable development means
A) increases in per capita real GDP measured by its rate of change per year.
B) method of redistributing income to the poorest in society.
C) improvements in labour productivity which lead to greater economic growth and higher living standards.
D) economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
100) The main benefit to economic growth is
A) sustainable development.
B) higher standard of living.
C) environmental disasters.
D) uneven consumption around the world.
Given the following information, show the change in the accounting equation.A.Deanne invests $45,000 and $10,000 of office equipment into the business.B.Furniture is purc...Dec 26 2019
Explore ethical issues and dilemma’s relating to cross cultural managementApr 10 2021
What is the electron configuration of palladium?Jul 18 2021
Question 1 (15%) As shown in Figure 1, the belt passing over the pulley is subjected to two forces F1 and F2, each having a magnitude of 40 N. F1 acts in the -k direction...Jun 30 2020
Insert commas, semicolons, and colons to punctuate the following sentences correctly. For each sentence indicate the number of additions you made.Bitcoin mining can bring...Jul 14 2021
What are the a) equation, and b) molecular interpretation for the reaction: hydrogen sulfide gas is reacted with dioxygen gas to produce gaseous sulfur dioxide and water?Jul 28 2021
The company 23andMe almost failed because of regulatory issues. What could product developers have done differently?Aug 24 2020
Which of the following is true concerning market skimming?a. It is often used to achieve early market dominance in terms of market share.b. It is used at the decline stag...May 09 2021
our company wants to give out prizes to the first ten people in line at a sale. In order to give out the prizes, the winners names and email addresses are to be captured....Apr 13 2020
EXPLORING CONCEPTSFinding Functions Find differentiable functions f and g such that and Explain how you obtained your answers. (Note: There are many correct answers.)Aug 17 2021