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 educational system
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 argue that all of the above factors play a role in determining economic growth. An effective system of patent protection encourages innovation and investment in research and development. The quality and size of the nation's educational system determine the pool of skilled labor available to contribute to innovation and productivity growth. Finally, the proportion of income that goes into research and development helps drive technological progress and innovation.

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