Economics · National Income Accounting
Which of the following statements regarding national wealth and resources is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Whether resources are used in generating a flow of output, income, and wealth is entirely immaterial.
- 2The national income of a country is simply the raw total value of all its physical resources.
- 3Countries endowed with abundant natural resources are always naturally the richest nations.
- 4The economic wealth of a country does not necessarily depend solely on the possession of natural resources.✓
Correct answer
The economic wealth of a country does not necessarily depend solely on the possession of natural resources.
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