one: using up scarce natural re new product producers dr breaking down barriers to

Foundations of Business (MindTap Course List)
6th Edition
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter1: Exploring The World Of Business And Economics
Section: Chapter Questions
Problem 6DQ
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Schumpeter's "creative destruction" is an explanation of economic progress resulting from:
Select one:
a. using up scarce natural resources to create new products.
b. new product producers driving incumbent producers out of business.
c. breaking down barriers to trade and development.
d. creating new methods to destroy the environment.
Transcribed Image Text:Schumpeter's "creative destruction" is an explanation of economic progress resulting from: Select one: a. using up scarce natural resources to create new products. b. new product producers driving incumbent producers out of business. c. breaking down barriers to trade and development. d. creating new methods to destroy the environment.
If an economy is initially in a steady state and it experiences an increase in its saving rate, then the steady-
state capital stock will
Select one:
O a. rise only if depreciation also rises.
O b. fall.
O c. rise.
O d. stay the same.
Transcribed Image Text:If an economy is initially in a steady state and it experiences an increase in its saving rate, then the steady- state capital stock will Select one: O a. rise only if depreciation also rises. O b. fall. O c. rise. O d. stay the same.
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