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Which of the Following Statements About Venezuelan Economic Policy in the 1960s

Question 4

Multiple Choice

Which of the following statements about Venezuelan economic policy in the 1960s and 1970s is FALSE?


A) The policy of "sowing the petroleum" used oil revenues to raise agricultural productivity, making Venezuela self-sufficient in most basic foods.
B) The government managed to nationalize the oil industry while remaining on good terms with the foreign oil companies and the US government.
C) Organized labor and the urban middle class prospered, but the rural poor were relatively neglected.
D) The oil-revenue boom of the 1970s created problems of debt, bureaucratic bloat, and corruption that discredited the political class.

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