Answered: In order to have innovation, you need…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter23: Growth And Less Developed Countries

Section: Chapter Questions

Problem 4SQP

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In order to have innovation, you need to a.have strong patent laws b.improve economic growth c.invest in capital d.share the benefits of innovation equally

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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