Problem: R&D and growth
a. Why is the amount of R&D spending important for growth? How do the appropriability and fertility of research affect the amount of R&D spending? How do each of the policy proposals listed in (b) through (e) affect the appropriability and fertility of research, R&D spending in the long run, and output in the long run?
b. An international treaty ensuring that each country's patents are legally protected all over the world.
c. Tax credits for each dollar of R&D spending.
d. A decrease in funding of government-sponsored conferences between universities and corporations. e. The elimination of patents on breakthrough drugs, so the drugs can be sold at a low cost as soon as they become available.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.