An Important Foundation of the New Growth Theory Is That

question 68

Multiple Choice

An important foundation of the new growth theory is that

• A) we will get more technological advances the more the government is involved.
• B) we will get more technological advances when the rewards for producing them are greater.
• C) the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth.
• D) improvements in labor productivity are poor measures of technological growth.

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Definitions:

Federal Statute

A federal statute is a law enacted by the legislative branch of the federal government of the United States.

Contributory Negligence

A legal doctrine that reduces the amount of damages a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to the cause of the injury.

Last Clear Opportunity

A legal principle in some tort law jurisdictions that allows the defendant to be exempted from liability if it can be shown they had no final clear chance to avoid the accident.

Comparative Negligence

A principle of tort law that reduces the amount of damages a plaintiff can recover in a negligence-based lawsuit, proportionate to the plaintiff's degree of fault.