Briefly explain whether the following policies are likely to increase the rate of economic growth in the United States. If a policy is likely to increase the rate of economic growth briefly explain how it will do so.

a. Congress passes an investment tax credit, which reduces a firm’s taxes if it installs new machinery and equipment. 

b. Congress shortens the period of patent protection for new inventions.

c. Congress provides more funds for low-interest loans to college students.