Institutions and laws, such as patent protection, that foster innovations lead to economic growth because they allow the government control of the innovations. give confidence to inventors that they will profit from their innovation. give confidence to consumers that the products they buy are safe. give businesses loans to buy new machinery.

Institutions and laws, such as patent protection, that foster innovations lead to economic growth because they allow the government control of the innovations. give confidence to inventors that they will profit from their innovation. give confidence to consumers that the products they buy are safe. give businesses loans to buy new machinery.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter2: Economic Systems And The American Economy

Section: Chapter Questions

Problem 7AA

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