Label the following statements as True or False.
1. All else equal, countries with more natural resources have a higher GDP per capita than those with few natural resources.
2. Over the past two hundred years, improvements in productivity have offset lost productivity reduction due to less land being available.
3. The key to prosperity in the 20th century is an economy rich in natural resources.
4. Human and physical capital are only beneficial to an economy when there is an abundance of natural resources in the economy.