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Empirical studies have revealed a process called _____, involving the birth of innovative firms and the...

Empirical studies have revealed a process called _____, involving the birth of innovative firms and the death of other firms, can be responsible for a large fraction of ______ in developing and developed countries.

A. technological advancement; wage growth

B. Technological advancement; productivity growth

C. Creative destruction; production growth

D. Creative destruction; wage growth

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Answer #1

option C is correct

Empirical studies have revealed a process called creative destruction, involving the birth of innovative firms and the death of other firms, can be responsible for a large fraction of production growth in developing and developed countries.

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