How is it possible that Switzerland, a landlocked country with almost no natural resources, is one of the richest countries in the world while the Democratic Republic of the Congo, a huge country with vast deposits of many strategically important minerals, is one of the poorest? The case of Switzerland vs. the Democratic Republic of the Congo highlights that: O once you become rich, it is easier to get even richer. O it is important to extract as much of the natural resources as possible. O natural resources are more important than the other components of productivity growth. O natural resources do not make up for all of the advantages that the other components of productivity growth bring.

How is it possible that Switzerland, a landlocked country with almost no natural resources, is one of the richest countries in the world while the Democratic Republic of the Congo, a huge country with vast deposits of many strategically important minerals, is one of the poorest? The case of Switzerland vs. the Democratic Republic of the Congo highlights that: O once you become rich, it is easier to get even richer. O it is important to extract as much of the natural resources as possible. O natural resources are more important than the other components of productivity growth. O natural resources do not make up for all of the advantages that the other components of productivity growth bring.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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