Why the capital of Norway has the highest living cost? What facts made this happen?

0 ⤊

Why the capital of Norway has the highest living cost? What facts made this happen?

2006-08-11 04:37:28 · 2 answers · asked by LifelikeNervure 1 in Social Science ➔ Economics

2 answers

Norway is awash in oil revenues. As a result, the Norwegian krone appreciated from 9 krone to a dollar five years ago to 6.26 today. Even if prices in local currency did not change (and they probably did, following the oil windfall), the dollar prices increased by about 50%...

2006-08-12 12:11:16 · answer #1 · answered by NC 7 · 0⤊ 0⤋

The fact that Norway was voted the best place to live for the past few years probably helped.

2006-08-11 11:42:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋