What Is the Source of Most Technological Progress

question 83

Multiple Choice

What is the source of most technological progress?

• A) private research by firms and individual inventors
• B) private research by firms and government
• C) government research
• D) government-sponsored research by universities

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Definitions:

Modified Accelerated Cost Recovery

A tax depreciation system in the United States that allows the accelerated write-off of property under certain categories for tax purposes.

Tax Act of 1989

Legislation enacted to amend, revise, or change the tax laws existing at that time, specific to a given jurisdiction.

Depreciation Method

A methodical strategy for distributing the expense of a physical asset across its lifespan.

Straight-line Method

A method of allocating an asset's cost evenly over its useful life for the purposes of calculating depreciation.