In the long run,research and development is credited with the greatest contributions to economic growth.

Question

Quizplus · Accepted Answer

Research and development (R&D) is credited with the greatest contributions to economic growth in the long run. This is because R&D leads to innovation and the creation of new products, processes, and technologies that can boost productivity, efficiency, and competitiveness in industries and markets. R&D can also lead to the development of new industries and the growth of existing ones, which can create new jobs, increase incomes, and generate wealth in the economy. Overall, R&D is considered a critical driver of long-term economic growth and prosperity.

In the Long Run,research and Development Is Credited with the Greatest