The Crisis in Venezuela

Topics: OPEC, United States, Petroleum, Venezuela, Inflation, 1980s oil glut / Pages: 2 (366 words) / Published: May 20th, 2015
Name: Alicia Torres

The Crisis in Venezuela p.16

What’s the Big Idea?
After reading “The Crisis in Venezuela,” use the graphic organizer below to record the article’s central ideas. Use the topics in the column on the left as a guide.

TOPIC
STATE THE CENTRAL IDEA RELATED TO THIS TOPIC
ECONOMY

Shortages of basic goods
UNREST

Lost in oil
South America facing crisis
GOVERNMENT RESPONSE TO UNREST

Insisting to changing to a dictatorship
RELATIONSHIP WITH THE U.S.

U.S buys oil from them

Highlight the best answers.
1. Venezuelan President Nicolás Maduro has blamed his nation’s economic woes on a Iran. b Mexico. c the United States. d Argentina.

2. In recent years, Venezuela’s economy has largely been kept afloat by a international aid. b the tourism industry. c textile manufacturing. d oil exports

3. Government-imposed price controls for some goods in Venezuela have resulted in a increased opportunities and profits for importers. b shortages of basic products.
c. declining prices for black-market goods. d the world's lowest inflation rate.

4. How has President Maduro responded to anti-government protests? a He has loosened price controls and created jobs. b He is working to revitalize the nation’s central bank and court system. c He has jailed protesters and shut down news organizations that don't support his policies. d none of the above

5. Which of these is NOT mentioned in the article as currently being on the rise in Venezuela?
a. violent crime
b. crude oil prices
c. inflation
d. discontent

6. The U.S. has taken a hard line in Venezuela by
a. freezing the assets of some Venezuelan officials.
b. ceasing all trade.
c. sending shipments of medical supplies and food.
d. none of the above

7. How have relations between Venezuela and the United States changed in recent decades?
The oil supply from the U.S. is buying the oil from Venezuela and today U.S doesn’t buy oil anymore.

8. What are some indications that

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