Stability Factors: What Keeps the Economy Steady?
Student Worksheet
By 2014, when oil prices collapsed, Norway's sovereign fund had grown past $1 trillion, letting public services continue without sudden cuts. Three global shocks line up for comparison: the 1973 oil embargo that triggered stagflation, the 2008 financial panic, and the COVID-19 pandemic that halted trade and travel outright. Flexible labor rules and deeper financial markets round out the case for resilience beyond any single windfall.
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