What factors determine technological progress?
What will be an ideal response?
Technological progress depends on (1 ) the fertility of research and development-how spending on R&D translates into new ideas and new products, and (2 ) the appropriability of the results of R&D-the extent to which firms benefit from the results of their R&D.
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Explain which of the following count as money
a. a check in Ann's checkbook b. currency in Ann's bank c. currency in Ann's purse d. Ann's checking deposit
In some cases, firms that are accused of antitrust violations by federal authorities will plead guilty to the criminal charges in order to avoid facing the same charges in a private or civil trial. Why?
A) Attorneys in civil cases tend to be more effective at proving their claims. B) The penalties for a conviction in a civil or private case are treble damages, or three times larger than the penalties in a criminal or public case. C) Judges in criminal cases are known to be more lenient. D) none of the above
It is sometimes claimed that garbage collectors are paid more than elementary school teachers. If this is true, one reason might be
a. the difference in working conditions b. that school teachers are usually women c. that the supply of teachers is small d. that the demand for teachers is small e. that the market does not value teachers
Economics is considered to be part of the field of
a. management science b. mathematical sciences c. actuarial science d. social sciences e. natural sciences