Productivity and Growth.
Your Assignment 3 relates to chapter 8 (Productivity and Growth.) You will be answerring questions related to the theory of productivity and growth.
Your assignment is worth 6 pts, and each of the questions must have at least a half of page of writing supported by more than the textbook refererence. In addition your answers must prescribe to APA format.. You must submit a cover page, each question in a page by itself, and your references page must be also in a page by itself. And, please do not forget to reference your in-text. Lastly your assignment must be submitted via “Safeassign” in order to obtain your max points your work must be original in at least 70%.
Answer the following questions:
– What is the relevance of research and development to an economy’s productivity? Among major economies, how does the United States rank in R&D spending as a share of the GDP?
– Define industrial policy. What are some arguments for and against industrial policy?
PS: Please the textbook must be in the references.
MACROECONOMICS : A CONTEMPORARY INTRODUCTION 11TH
Author: William A. McEachern
Publisher: Cengage South-Western
Edition: 11th, Eleventh, 11e Year: 2016 Format:
ISBN 13: 9781305505490 (978-1-305-50549-0)
ISBN: 1305505492 (1-305-50549-2)
Solution Preview
Significance of Research and Development to productivity of the economy
It is paramount that the goal of every Organization is to maximize on the profits as they minimize the costs. This enhances the growth of the Company which guarantees the going concern of the Organization. It is evident that Research and development is the tool behind the success of any Organization. Ideally, Research and development breeds innovative ideas in the Company. Through research, scientists and managers come up with new series of ideas, knowledge and techniques that help promotes the growth of the Company. Additionally, through research and development, new technology is implemented in the Organization which promotes growth and performance of the employees (William, 2016).
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