Which of the Following Best States Economists' Understanding of the Facts

question 119

Multiple Choice

Which of the following best states economists' understanding of the facts concerning the relationship between natural resources and economic growth?

• A)A country with no or few domestic natural resources is destined to be poor.
• B)Differences in natural resources have virtually no role in explaining differences in standards of living.
• C)Some countries can be rich mostly because of their natural resources and countries without natural resources need not be poor,but can never have very high standards of living.
• D)Abundant domestic natural resources may help make a country rich,but even countries with few natural resources can have high standards of living.

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Definitions:

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Sale Price

The final amount at which a product or property is sold after any discounts or negotiations.

Everyday Low Price

A pricing strategy where products are consistently offered at low prices without special promotions or discounts.

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A measure used to quantify the subjective feeling of loneliness experienced by an individual.