A Key Idea of the New Growth Theory Is That

question 105

Multiple Choice

A key idea of the new growth theory is that

• A) technology is not an important determinant of economic growth.
• B) economic growth is not as important as leisure time growth.
• C) the greater the rewards for technological advances, the greater the number of technological advances.
• D) the rewards associated with technological advances have little to do with the actual rate of invention or innovation.

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Definitions:

GST Remittance

This is the process of sending the collected Goods and Services Tax to the governing tax authority.

GST Returns

The periodic filing with the taxation authority detailing sales, the GST collected on sales, and the GST paid on purchases.

Correct To The Cent

Adjusting a monetary amount to ensure accuracy up to the smallest currency unit, often referring to rounding to the nearest cent.

Rate Of Return

The increase or decrease in the value of an investment within a defined timeframe, represented as a percent of the investment's initial price.