Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2 A look at the data: Intellectual property products. In 2015, the U.S. National Income Accounts began to count intellectual property products such as

image text in transcribed
Question 2 A look at the data: Intellectual property products. In 2015, the U.S. National Income Accounts began to "count" intellectual property products such as R&D, computer software, books, music, and movies explicitly as investment. More correctly, they had previously assumed these products were an intermediate good that depreciated fully when used to produce some other final good, but now they are included as part of investment and GDP. Examine the data on the investment in intellectual property products (IPP).2 What has happened to the share of GDP devoted to investment in IPP over the last 60 years? What might explain this change? b. If this were the only change included in a Romer model (as described in question 1), what would happen to the growth rate of GDP per person over time? What might explain why this has not happened

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Great Divide Unequal Societies And What We Can Do About Them

Authors: Joseph E Stiglitz

1st Edition

0393352188, 9780393352184

More Books

Students also viewed these Economics questions