When oil prices fell in the mid-1980s, Venezuela's economy

Question

When oil prices fell in the mid-1980s, Venezuela's economy

1. suffered a decline
2. enjoyed an increase
3. stayed about the same***
4. began to show signs of recovery

Most of Venezuela's population lives
1. in cities***
2. in the countryside
3. on islands of floating reeds
4. in the rain forest

Thanks everyone! @Writeacher @Reed @Damon @Ms. Sue

Answer 1

I have no idea since I haven't studied the history of Venezuela since 6th grade! But your text plus good searches on Google or Bing should get you the information you need.

http://www.nationsencyclopedia.com/Americas/Venezuela-ECONOMIC-DEVELOPMENT.html

http://en.wikipedia.org/wiki/Economy_of_Venezuela

I agree with you for your second question.

Urbanization:
urban population: 88.9% of total population (2014)
rate of urbanization: 1.54% annual rate of change (2010-15 est.)
The facts above are from http://www.cia.gov/library/publications/the-world-factbook/geos/ve.html

Answer 2

suffered a decline

Answer 3

To answer the first question, about the impact of falling oil prices in the mid-1980s on Venezuela's economy, you need to understand the general relationship between oil prices and Venezuela's economy.

Venezuela is a country highly dependent on oil exports, and therefore, its economy is heavily influenced by fluctuations in oil prices. When oil prices fall, it usually leads to a decline in Venezuela's economic performance. So, the correct answer to the first question is Option 1: suffered a decline.

Oil revenues play a crucial role in funding government spending, public programs, and social services in Venezuela. When the price of oil drops, the government's income decreases, resulting in a decrease in investment, consumption, and overall economic activity. This decline can lead to various negative consequences, such as layoffs, reduced government services, inflation, and an increase in poverty levels.

Moving on to the second question, to determine where most of Venezuela's population lives, you can eliminate options that are clearly not correct. For instance, option 3 (on islands of floating reeds) and option 4 (in the rainforest) can be eliminated because they don't correspond to the actual distribution of the population.

The majority of Venezuela's population lives in cities, so the correct answer is option 1: in cities. Venezuela, like many other countries, has experienced urbanization, with a significant portion of its population concentrated in urban areas due to various factors such as job opportunities, access to services, and infrastructure.

It's always important to consider the context and knowledge about the subject area when answering questions. Understanding basic economic principles and having a general understanding of a country's demographic distribution can help in answering such questions accurately.