Research and development is what we call spending to develop and implement new technologies.
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Q221: Diminishing returns to physical capital means that,
Q222: In 2015, the United States spent 38%
Q223: Malthus's predictions have proved to be false
Q224: In 1798, the English economist Thomas Malthus
Q225: According to estimates of the aggregate production
Q227: Physical capital consists of man-made resources like
Q228: Malthus's predictions have proved to be true,
Q229: The aggregate production function typically increases at
Q230: If technology improves, then it takes more
Q231: Total factor productivity is the amount of
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