Which of the following statements is NOT consistent with new growth theorists' beliefs?
A) Innovation can lead to lower productivity costs.
B) Inventions are much more important than innovation.
C) Technology must be understood in terms of what drives it.
D) Rewards lead to technological advances.
B
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Which of the following would not be an example of a productivity shock?
A) The introduction of new management techniques B) A change in government regulations affecting production C) A change in the level of government transfer programs D) A spell of unusually good or unusually bad weather
A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager's permission to reduce price below a specific threshold. This solution would only work if
a. The marketing manager has no information about the matter at hand b. The marketing manager can only get all the information on the case from the sales agent c. Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction d. All of the above