High Corruption and a Lack of Copyright Protection Help Capital
High corruption and a lack of copyright protection help capital accumulation and economic growth.
A) anything that will enable a given amount of capital and labor to produce more output.
B) another name for capital.
C) another name for productivity.
D) any type of invention.
E) the application of science to production.
Technology can best be thought of as
A) any type of capital equipment.
B) recipes that show how to combine inputs.
C) scientific process.
D) what inventors produce.
E) physical equipment.
Innovation can best be thought of as
A) another word for invention.
B) what occurs when new capital equipment is used.
C) the discovery of a new principle.
D) what occurs when new knowledge is applied in production.
E) what happens when a new business is started.