The Development of New Products Through Research and Development in New

question 135

Multiple Choice

The development of new products through research and development in new growth theory is important because

• A) there can be a positive impact on future growth.
• B) society's scarce resources are being used when they could be used for current consumption.
• C) it will lead to a reduction in the savings rate.
• D) new patents are created.

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Definitions:

Demographic Transition

A model that describes the transformation of a country's population structure, typically from high birth and death rates to low birth and death rates, as part of economic development.

Birthrates

A statistical figure that represents the number of births per 1,000 people in a population over a specific period of time.

Death Rates

A statistical figure showing the number of deaths per year, often per 1,000 individuals, in a particular population.

World Commodity Prices

The prices of raw materials and agricultural products that are traded on a global scale.