Schumpeterian models of technological progress incorporate the following principle(s) :
A) innovations are the result of intentional application of costly resources to R&D activities to create new products, ideas, processes, techniques, etc.
B) competition among firms becomes a process of creative destruction.
C) eventually monopoly producers dominate the economy and technological progress stops.
D) a and c only.
E) a and b only.
Correct Answer:
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A)
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A) in the
Q18: Joseph Schumpeter's model was characterized by:
A) investment
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Q24: The Schumpeterian R&D model of technological progress
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