Describe R&D expenditures in the United States. What percentage of spending goes for invention, innovation, and diffusion?
What will be an ideal response?
In 2009, total research and development spending by government and business was 2.88% of GDP. This spending is relatively high compared to other industrialized countries. In business, research and development (R&D) includes work and expenditures directed toward invention, innovation, and diffusion. U.S. business firms spend about 80% of their R&D expenditures on activities related to innovation and diffusion. Another 15% of expenditures goes for invention. The remaining 5% is spent on basic research. Government also supports R&D through defense expenditures and the funding of other activities.
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A) $1.00 B) $2.00 C) $3.00 D) $7.00
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a. all the cost benefits of large-scale production and none of the allocative inefficiencies of monopoly. b. all the cost benefits of large-scale production and all of the allocative inefficiencies of monopoly. c. none of the cost benefits of large-scale production and none of the allocative inefficiencies of monopoly. d. none of the cost benefits of large-scale production and all of the allocative inefficiencies of monopoly.