Assessing the Role of Technological Innovation: Inthe "Schumpeterian model" of economic growth,what role does "creative destruction" play?A) It refers to the gradual improvement of existingtechnologies without disrupting existing industries.B) It describes the process by which new innovationsreplace outdated technologies and business models,leading to economic progress and increasedproductivity.C) It suggests that technological innovation has anegative impact on long-term economic growth.D) It highlights the stability and persistence ofestablished firms in the face of innovation.

In the Schumpeterian model of economic growth, which bears the name of economist Joseph Schumpeter,…

Answered: Assessing the Role of Technological…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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31) Given the narrow interpretation of technology, technology will include which of the following? A) how well firms are run B) the organization and sophistication of markets C) the political environment D) none of the above 32) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the growth rate of output per capita will be greater in B than in A. B) the growth rate of output per capita will be greater in A than in B. C) the capital-labor ratios (K/N) will be the same in both countries. D) the growth rate of output per capita will be the same in both countries. 33) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the capital-labor ratio…
Question 10 Which of the following statements about y=Ak growth models is false? They assume the production function shifts upwards whenever the stock of physical capital increases. b) They suggest that if the level of investment is higher than depreciation, then there could be sustained growth. c) They are called endogenous growth theories. d) They argue that increasing the saving ratio will have only a temporary effect on output per worker.
There exist several drawbacks in the Solow growth model (Solow, 1956) that does not make the model provide satisfying answers to the central questions about economic growth. Explain the key problems with the Solow growth model that led to the emergence of the endogenous growth models (e.g., productive externalities and R&D models of endogenous growth)
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e Page(s) 416-418 12.4. Why are institutions the key to economic growth? Chile's per capita GDP rose from $7,709 to $20,208 over 23 years (1985- 2008). Which of the following factors is included in modern growth theory but not in the Solow model? Click or tap a choice to answer the question. expanded water-management infrastructure to support agriculture new technology that has revolutionized the salmon industry privatization of many government-owned businesses an expanded wine industry that takes advantage of Chile's geography
Could you show me the solution for question part b)
Answer the following: Q#13) The former Tea Party and Trump factions with the Republican Party would like the government to limit its direct intervention in the private sector while lowering taxes and eliminating government regulations. Which theory of economic growth is being utilized? (a) Malthusian Theory (b) Neo-Classical Theory (c) New Growth Theory Q#14) Does allowing for private property and property rights promote economic growth through time? Which best summarizes the view of economists? (a) Yes. Profit incentives that undergird investment and innovation would be undermined unless private property rights are protected. (b) No. The public interest and the public welfare cannot be promoted unless private companies are controlled and even operated by the government.
For this question assume that technological progress does not occur. The rate of saving in Canada has generally been greater than the saving rate in the U.S. Given this information, we know that in the long run A) Canada's growth rate will be greater than the U.S. growth rate. B) capital per worker in Canada will be no different than U.S. capital per worker. C) investment per worker in Canada will be no different than U.S. investment per worker. D) all of these E) none of these
Our simple growth model implies that Select one: a.countries with higher K/L ratios will have higher economic growth. b.increases in K/L increase Y/L but at a diminishing rate. c.capital has no impact on Y/L. d.there is little prospect of poor countries catching up with rich countries. In the past few years, several high profile celebrities have campaigned for debt relief for HIPC's (Highly Indebted Poor Countries). While debt relief can potentially play a useful role in poverty reduction there are also some possible downsides such as Select one: a.reducing a poor nations exports. b.increasing government deficits. c.encouraging further debt by setting up an expectation that future debts will also be forgiven. d.under cutting local markets for food and other commodities given as aid.

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