Answer:
B) The GDP will increase because Nigeria will be able to produce more oil
Explanation:
The introduction of a new technology would result in an increase in the volume of crude oil being produced by the nation. This in turn will improve the net exports of the government which would increase the gross domestic product of the country.
Gross domestic product is the total market value of the goods and services produced by a country within a specified period. It is calculated by summing up consumption, investment, government spending, and net exports.
Immigration is the international movement of people into a destination country of which they are not natives or where they do not possess citizenship in order to settle or reside there, especially as permanent residents or naturalized citizens, or to take up employment as a migrant worker or temporarily as a foreign worker.[1][2][3]
As for economic effects, research suggests that migration is beneficial both to the receiving and sending countries.[4][5] Research, with few exceptions, finds that immigration on average has positive economic effects on the native population, but is mixed as to whether low-skilled immigration adversely affects low-skilled natives.[6][7][8][9][10] Studies show that the elimination of barriers to migration would have profound effects on world GDP, with estimates of gains ranging between 67 and 147 percent.[11][12][13] Development economists argue that reducing barriers to labor mobility between developing countries and developed countries would be one of the most efficient tools of poverty reduction
Answer:
They can lead to the lifting of sanctions.
Explanation:
Aid doesn't help an economy.
Competing with the United States is more like a result of having a developed economy, rather than a cause of an economy developing. Plus, the United States wouldn't likely export the same things as a developing nation.
International trade agreements don't help an economy to 'grow quickly', plus this is a really general answer.
The lifting of sanctions is really important. It's hard to develop under sanctions. Trade agreements allow for the regulation, reduction and removal of sanctions. For example, if the US made a trade deal with Mexico, it would greatly help Mexico to develop, as they would now be trading more freely with the United States.
