4) Models of Schumpeterian creative destruction aim to explain: (a) how old capital is best retired and replaced with new capital. (b) why seeming technological progress can reduce average incomes. (c) how entrepreneurs with new products displace incumbent producers. (d) why economies grow quickly after suffering the ravages of war.

4) Models of Schumpeterian creative destruction aim to explain: (a) how old capital is best retired and replaced with new capital. (b) why seeming technological progress can reduce average incomes. (c) how entrepreneurs with new products displace incumbent producers. (d) why economies grow quickly after suffering the ravages of war.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 1CQQ

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