Natural Resources

question 4

Multiple Choice

Natural resources:

• A)are still the most important factor in determining the productivity of human or physical capital for all countries.
• B)are the only factor that consistently shows a positive effect on productivity for wealthy countries.
• C)are a less significant source of productivity growth in most countries today than in earlier times.
• D)can be used to explain the differences in productivity growth among countries.

---

Definitions:

Loss on Sale

The financial loss incurred when the selling price of an asset is less than its carrying amount on the books.

Patent Amortization

The systematic reduction of the recorded cost of a patent over its useful life to reflect its consumption or expiration.

Operating Section

The segment of a financial statement that details revenues and expenses directly related to the core business operations.

Net Income

Net Income, or net profit, is the total earnings of a company after subtracting all expenses, including taxes, interest, and operating expenses, from its total revenue.