The discovery of oil in Norway in the 1970s:
A) led to a permanent increase in the amount of labor.
B) led to an increase in Norway's influence in the Western economies.
C) led to an increase in their rates of return on investments.
D) led to a permanent increase in capital stock.

Question

Quizplus · Accepted Answer

The discovery of oil in Norway led to an increase in their rates of return on investments due to the revenue generated from selling oil allowing for reinvestment into the economy. While there was an increase in labor and capital stock, there is no evidence to suggest that these were permanent increases. Additionally, while Norway's influence did grow due to their oil production, it is not the best choice as it was not the most direct outcome of the discovery of oil.

The Discovery of Oil in Norway in the 1970s