Which of the following stands true for technological innovation?
a. Actual changes in technology proceed as evenly as expenditures on research and development.
b. A decline in spending on research and development may indicate less of a commitment to increasing productivity.
c. The purchase of computer hardware or software as investment is not advised because of continuous innovations in the field of IT.
d. In developing countries, the benefits of IT innovations are being fully exploited because of a large population.
e. Education gives developing countries a substantial advantage over industrial countries in creating and implementing innovations because of a large percentage of skilled labor force in the population.
b
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According to supply-side economists, lowering corporate income taxes
a. results in higher wages without creating higher levels of labor productivity b. creates greater income equality c. checks the expansion of real GDP and employment d. stimulates investment and spurs on economic growth e. is a disincentive to producers who rely on tax credit for investment
Before a market allocation of goods on the production possibilities curve can be judged efficient, one must evaluate "what" goods the market produced
a. True b. False Indicate whether the statement is true or false