Proponents of the new growth theory argue that which of the following is a determinant of economic growth?
A) An effective system of patent protection
B) The quality and size of the nation's human capital
C) The proportion of income that goes into research and development
D) All of the above

Question

Quizplus · Accepted Answer

Proponents of the new growth theory believe that an effective system of patent protection encourages innovation, which increases economic growth. In addition, the quality and size of a nation's human capital, as well as the proportion of income invested in research and development, are important determinants of economic growth. Therefore, all of the above options are considered determinants of economic growth according to the new growth theory.

Proponents of the New Growth Theory Argue That Which of the Following