The discovery and utilization of vast,previously unknown oil and mineral deposits in a country will increase

Question

Quizplus · Accepted Answer

The discovery and utilization of new oil and mineral deposits will require increased investment and technology, which will lead to improvements in average labor productivity.

Answer: B 
 The development of new oil and mineral deposits will require an increase in the workforce, creating employment opportunities, and leading to an increase in the share of the population employed.

Answer: C 
 Discovering new oil and mineral deposits might bring about a "resource curse" where people divert their efforts from other sectors, leading to unemployment in those sectors. Also, discovery might lead to a boom-bust cycle leading to a high unemployment rate.

Answer: E 
 the discovery and utilization of new oil and mineral deposits will lead to an increase in the labor force participation rate, as individuals seek job opportunities in the industry.

The Discovery and Utilization of Vast,previously Unknown Oil and Mineral