All of the following statements about government-supported research are true, except:

a. Cooperation between government-funded universities, academies, and the private sector can spur product innovation.

b. Cooperation between government-funded universities, academies, and the private sector can create whole new industries.

There is no exception.

Explanation:

When government-funded universities, academies, and the private sector cooperate to support research, it will bring about innovation and whole new industries will be created.

This is because researches to be carried will lead to discoveries of new and better products, and methods or techniques of producing existing product. This referred to as innovation. So, when there are new discoveries, especially as regards an economic activity that was never carried out in an economy before or a product that was never produced, such crude oil, in the economy, a whole new industry will have to be created to accommodate it.

Therefore, cooperation between government-funded universities, academies, and the private sector can spur product innovation, and can also create whole new industries.

So, there is no exception in the options in the question as both options are relevant to spur innovation and create a whole new industry.

Answer: None of the Option A and B is an exemption

Explanation: Cooperation between government-funded universities, academies, and the private sector can spur product innovation same as cooperation between government-funded universities, academies, and the private sector can create whole new industries. It should also be noted that the most crucial thing here is cooperation between all the parties involved.