From the Industrial Revolution to the present, innovation has played a major role in the growth of output. What do the leading analysts of economic growth argue were some of the most significant innovations of this period?
Leading analysts of economic grow argue that some of the most significant innovations were electricity, use of radio waves to transmit sound, discovery of the new technique for refining iron, products such as the automobile, airplane, transistor, integrated circuit, and computer.
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One effect of the Internet on business has been:
a. It has reduced start-up costs for many businesses. b. It has decreased the types of goods that are available to consumers. c. It has increased the prices of goods that are not purchased on the Internet.
Assume that business investment spending rises, and the increase is funded by greater borrowing in the capital markets. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the net nonreserve international borrowing/lending balance and monetary base in the context of the Three-Sector-Model? a. The net nonreserve international
borrowing/lending balance becomes more positive (or less negative) and monetary base rises. b. The net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base falls. c. The net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base falls. d. The net nonreserve international borrowing/lending balance and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.