Schumpeter Argues That the Rate of Technological Change Is Likely

question 34

Multiple Choice

Schumpeter argues that the rate of technological change is likely to be greater in imperfectly competitive industries because imperfectly competitive firms

• A) earn profits that support expenditures on research and development.
• B) lack the power necessary to keep rivals from imitating their innovations.
• C) have a vested interest in maintaining demand for existing products.
• D) use their power to keep out rivals who would be more inclined to use new techniques.
• E) are composed of a large number of independent decision-making units that are less inclined to be conservative.

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Definitions:

Abdomen

The part of the body containing the digestive organs; located between the thorax and pelvis.

Stomach

The digestive organ in the gastrointestinal tract that breaks down food with acid and enzymes.

Lymphatic Ducts

Large vessels in the lymphatic system that drain lymph from the lymphatic vessels into the venous system, helping to maintain fluid balance and immune defenses.

Thoracic Duct

The thoracic duct is the largest lymphatic vessel in the human body, responsible for transporting lymph and chyle from the lymphatic system into the bloodstream.