The growth records of Japan and Hong Kong during the last fifty years indicate that an economy can grow rapidly without
A) securely defined property rights.
B) abundant domestic natural resources.
C) significant capital formation.
D) adopting modern technology.

Question

Quizplus · Accepted Answer

The growth records of Japan and Hong Kong show that an economy can grow rapidly without abundant domestic natural resources. Japan and Hong Kong are both countries with limited natural resources, yet they have achieved significant economic growth through other means such as investing in human capital, adopting modern technology, and engaging in international trade.

The Growth Records of Japan and Hong Kong During the Last