Exam SG - According to the lecture the ideology of policy...

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According to the lecture, the ideology of policy makers makes a difference in the strategy used by a government to economic development. Conservative states should be more disposed to entrepreneurial strategies, while liberates should be more disposed toward industrial recruitment strategies. FALSE Which of the following factors is NOT included as a contributing factor to economic growth in Adam Smith’s classic growth theory? CULTURE which factor was not identified in class as a major contributor to growth (potentially). FREE SPEECH In the United States, privatization is mainly related to public asset sale. TRUE A concession or privilege government grants to a private organization to conduct business in a particular market or geographical area is called A FRANCHISE According to the lecture, cluster theory is associated with which of the following economists? MICHAEL PORTER - Productivity, innovation, new business formation Clusters are geographic concentrations of interconnected companies, specialized suppliers, firms in related industries, and associated institutions (e.g., government, universities, and trade associations) in a particular field that compete but also cooperate . According to the lecture, privatization is the practice of delegating public duties to private organizations. TRUE Economic Growth: growth is concerned with wealth enhancement, that is increases in financial value (or loss). - Classical definition Economic growth is the increase in the value of goods and services produced by an economy. It is conventionally measured as the percent rate of increase in real GDP General fund is the primary operating fund of a governmental unit, also fund improvements or
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