Multiple Choice
Creative destruction means that
A) firms develop new products that replace old products in the economy,thereby encouraging economic growth.
B) economic growth can only be sustained if capital depreciates rapidly.
C) knowledge capital can be created through a system of government subsidies for education and research and development.
D) research and development should only be financed if research and development is incremental (a result of making small changes to existing products) .
Correct Answer:
Verified
Correct Answer:
Verified
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