Q
Which one of the following has been wrongly listed as a defect of Schumpeter’s theory?
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A
A. He wrongly asserts that capitalism is crumbling and socialism is likely to replace it
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B
B. His theory is defective in so far as it tries to present the spirit of enterprise as a phenomenon common to all social organisations
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C
C. His assumption that all innovations are financed by borrowings is not correct because banks generally provide only short-term loans
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D
D. None of the above
Correct Answer:
D. D. None of the above
