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13. Which of the following statements is true? a In general, follower countries can grow very fast because their initial situation is one with significant

13. Which of the following statements is true?

a

In general, follower countries can grow very fast because their initial situation is one with significant inefficiencies in the use of their scarce resources. The availability of new technologies and more capital allows them to become more efficient and grow fast.

b

Strong property rights are absolutely essential for the promotion and sustainability of modern economic growth, since people will not invest if they believe their investments are not safe from theft or an unscrupulous government.

c

Patent and copyright laws are also necessary if a society wants a constant flow of innovative new technologies and sophisticated new ideas.

d

All of the above.

e

Only a) and b)

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