{"id":92172,"date":"2025-06-01T11:16:18","date_gmt":"2025-06-01T11:16:18","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=92172"},"modified":"2025-06-01T11:16:18","modified_gmt":"2025-06-01T11:16:18","slug":"consider-the-following-statements-statement-i-recently-venezuela","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-statement-i-recently-venezuela\/","title":{"rendered":"Consider the following statements :\nStatement-I : Recently, Venezuela"},"content":{"rendered":"

Consider the following statements :
\nStatement-I : Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing\/emigrating to other countries.
\nStatement-II : Venezuela has the world’s largest oil reserves.
\nWhich one of the following is correct in respect of the above statements ?<\/p>\n

[amp_mcq option1=”Both Statement-I and Statement-II are correct and Statement-II explains Statement-I” option2=”Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I” option3=”Statement-I is correct, but Statement-II is incorrect” option4=”Statement-I is incorrect, but Statement-II is correct” correct=”option4″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC IAS – 2024<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nStatement-I is incorrect because Venezuela is still grappling with a severe economic crisis that has led to widespread emigration. Statement-II is correct as Venezuela possesses the world’s largest proven oil reserves. Therefore, Statement-I is incorrect, but Statement-II is correct.
\n<\/section>\n
\nStatement-I inaccurately portrays Venezuela’s economic situation and migration trends, while Statement-II correctly identifies its status regarding oil reserves.
\n<\/section>\n
\nVenezuela’s economy has suffered significantly from hyperinflation, shortages of goods, and political instability, resulting in millions of Venezuelans leaving the country in recent years. While oil reserves are vast, mismanagement and international sanctions have impacted oil production and export, contributing to the economic woes rather than preventing them.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Consider the following statements : Statement-I : Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing\/emigrating to other countries. Statement-II : Venezuela has the world’s largest oil reserves. Which one of the following is correct in respect of the above statements ? [amp_mcq option1=”Both Statement-I … <\/p>\n

Detailed SolutionConsider the following statements :
\nStatement-I : Recently, Venezuela<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1092],"tags":[1103,1142],"class_list":["post-92172","post","type-post","status-publish","format-standard","hentry","category-upsc-ias","tag-1103","tag-current-news-and-affairs","no-featured-image-padding"],"yoast_head":"\nConsider the following statements : Statement-I : Recently, Venezuela<\/title>\n<meta name=\"description\" content=\"Statement-I is incorrect because Venezuela is still grappling with a severe economic crisis that has led to widespread emigration. Statement-II is correct as Venezuela possesses the world's largest proven oil reserves. Therefore, Statement-I is incorrect, but Statement-II is correct. 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