Question

Classify each statement as either true or false. New technological developments can help us adapt to depleting sources of natural resources. Research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. In order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. Countries with few natural resources will always be poor. As long as real GDP (gross domestic product) grows at a slower rate than the population, per capita real GDP increases. Answer Bank false

Answer 1

1- True. Because technological development will increase the efficiency of utilisation of resources.

2- False. Research and development increase the efficiency and it could also increase employment opportunities in country. It not always pay off to only rich. Some benefits will also have poor.

3- True. These industries must be protected because foreign industries are more efficient. Foreign industries could provide goods at lower prices.

4- False. Country with few natural resources could have rich human resource and will not be poor. Japan has lesser natural resources but is a developed country.

5- False. In this case real GDP will decrease not increase if population growth rate is higher.

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Answer 2