With Respect to Innovation,which of the Following Statements Is True

question 90

Multiple Choice

With respect to innovation,which of the following statements is true?

• A)Government policy cannot influence the rate of innovation.
• B)Innovation is exogenous to the economic system.
• C)The utilization rate of existing plant and equipment and its durability are independent of the pace of innovation.
• D)The principal incentive for innovation does not appear to be related to profits.
• E)Innovation is often endogenous to the economic system.

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Definitions:

Communications Technology

The array of tools and platforms used for the exchange or transmission of information, including traditional media, digital platforms, and telecommunication systems.

Bureaucracies

Systems of government or organizations characterized by a hierarchical structure, fixed routines, and a division of labor, aimed at enhancing efficiency.

Human Workers

Individuals engaged in manual or intellectual labor as part of a workforce.

Industrial Revolution

The period of great economic, technological, and social change in the 18th and 19th centuries, marked by the transition from manual production methods to machine-based manufacturing processes.