O-LevelEconomicsEconomic development2281/12 · Oct/Nov 2023 · Q271 Mark
A small country whose only export is oil decides to reduce substantially the rate at which it extracts its limited oil reserves. What is the most likely reason for this decision?
Ato improve the balance of payments in the following year
Bto increase current government income
Cto maintain future living standards
Dto raise the level of employment in the oil industry
✓ Correct answer
C: to maintain future living standards
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