If Technological Progress Involves Positive Externalities,then Private Sector Spending on Research

question 74

Multiple Choice

If technological progress involves positive externalities,then private sector spending on research and development may be:

• A)too high.
• B)wasted.
• C)too low.
• D)less than public sector spending on research and development.
• E)greater than public sector spending on research and development.

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Definitions:

Decentration

The cognitive ability to consider multiple aspects of a situation simultaneously, rather than being focused on a single viewpoint.

Objectivity

Refers to the practice of being impartial, fair, and unbiased in judgment or analysis.

Preoperational

A stage in Jean Piaget's theory of cognitive development (ages 2 to 7) where children start to use language and think symbolically but lack the ability for abstract thinking.

Transform Information

The process of changing or converting data and information into a different format or structure for understanding or analysis.