American culture contributes to economic growth through the encouragement of new ideas by
A) supporting entrepreneurship.
B) encouraging a high level of personal savings.
C) supporting a retirement income for all citizens.
D) expecting a high level of government ownership of manufacturing firms.

Question

Quizplus · Accepted Answer

Supporting entrepreneurship is crucial for economic growth because it fosters innovation and new ideas that can lead to new businesses, job creation, and economic growth. The United States has a culture that encourages risk-taking, and this has led to the creation of many successful companies, such as Google, Apple, and Facebook. Personal savings, retirement income, and government ownership of manufacturing firms are not necessarily factors that contribute to economic growth.

American Culture Contributes to Economic Growth Through the Encouragement of New