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71) Which one of the following does NOT appear to contribute to economic growth?

A) innovation

B) knowledge

C) protectionism

D) a system of well-defined property rights

72) What is the economic role of a patent?

73) How does innovation differ from invention? Why is innovation required for economic growth?

74) According to Romer and other new growth theorists, what could poor countries do to stimulate greater economic growth?

75) Explain how the "new growth theory" treats technology differently from the way economists used to treat technology.

76) Would a new growth theorist expect economic growth to be very rapid in one of the Communist nations before the fall of Communism? Why or why not?

77) Explain Paul Romer's ideas concerning economic growth.

 

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