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.

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?

(a) Both Statement I and Statement II are correct and Statement II explains Statement I
(b) Both Statement I and Statement II are correct, but Statement II does not explain Statement I
(c) Statement I is correct, but Statement II is incorrect
(d) Statement I is incorrect, but Statement II is correct

Answer: (d) Statement I is incorrect, but Statement II is correct

Explanation:

• Statement I is incorrect. Venezuela has not achieved a rapid recovery from its economic crisis, and many of its people continue to flee to other countries due to the ongoing economic hardships and political instability.
• Statement II is correct. Venezuela indeed has the world’s largest oil reserves.

Possible Sources: News reports on Venezuela’s economic situation, data on global oil reserves.