UPSC PRELIMS · ECONOMICS · INTERNATIONAL ECONOMY: VENEZUELA
Consider the following statements: Statement-I: Venezuela has rapidly recovered from its economic crisis and prevented large-scale emigration. Statement-II: Venezuela has the world's largest proven oil reserves. Which one of the following is correct?
Take a breath. Choose one. Press A–D on your keyboard if you like.
EXPLANATION
Venezuela has the world's largest proven crude-oil reserves, making Statement-II correct. The country has experienced a prolonged economic and humanitarian crisis with substantial emigration, so Statement-I is incorrect.
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