ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the main factors in technological progress?
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open markets, strong patent laws, and minimal regulation
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scientific research, innovation, scale of the market, education and experience, and natural resource use
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consumers buying electronic gadgets
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low taxes, fewer regulations, and higher investment
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Explanation:
Detailed explanation-1: -The discussion below focuses on four basic knowledge flows among actors in a national innovation system: 1) interactions among enterprises; 2) interactions among enterprises, universities and public research laboratories; 3) diffusion of knowledge and technology to firms; and 4) movement of personnel.
Detailed explanation-2: -Embodied technical progress: Improved technology which is attributed to investments in new equipment. Disembodied technical progress: Improved technology which results in output increases without investing in new equipment.
Detailed explanation-3: -Powering productivity. Going green. Reducing risk. Evolving environments. Regulatory reform. 18-Aug-2022
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