Paul Romer argues that "what underlies this process [economic success] ...... are instructions, formulas, recipes, and methods of doing things." He is referring to the:
A) hardware or tangible assets.
B) software or intangible assets.
C) wetware or soup recipes.
D) hardware or human resources.

Question

Quizplus · Accepted Answer

Romer is referring to intangible assets such as knowledge, technology, and ideas rather than physical assets like equipment or facilities (hardware). "Wetware" refers to the human brain or biological systems, which is not what Romer is discussing. While human resources may be involved in utilizing these intangible assets, the focus of Romer's argument is on the intangible assets themselves.

Paul Romer Argues That "What Underlies This Process [Economic Success]