The growth experiences of oil-rich countries indicate that _____.
A)a large supply of natural resources helps in the industrialization of the countries
B)natural resources are not enough to create a modern industrial economy
C)low productivity is a result of low income
D)unemployment and underemployment reflect inefficiencies of labor
E)education makes people more receptive towards new ideas and methods

Question

Quizplus · Accepted Answer

The growth experiences of oil-rich countries indicate that natural resources are not enough to create a modern industrial economy. These countries often suffer from the "resource curse" where their economies become overly reliant on exporting raw materials and fail to diversify into other sectors that can lead to sustained growth and development.

The Growth Experiences of Oil-Rich Countries Indicate That _____