New growth theorists conclude that
A) invention is more important than innovation in spurring economic growth.
B) the amount of technological innovation in an economy is independent of the rewards offered for innovation.
C) rates of global economic growth are limited by the amount of raw materials available.
D) economic growth can continue as long as we keep coming up with new ideas.

Question

Quizplus · Accepted Answer

New growth theorists argue that economic growth is driven by the accumulation of knowledge, which includes both new inventions and improvements to existing technologies through innovation. They believe that as long as we continue to come up with new ideas and invest in research and development, economic growth can be sustained indefinitely. This perspective emphasizes the importance of investing in education and promoting innovation and entrepreneurship to drive long-term economic growth.

New Growth Theorists Conclude That