ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lower interest rates
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Increase the National Minimum Wage
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Increase interest rates
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Print more money!
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Detailed explanation-1: -Minimum Wage – Venezuela The current minimum wage in Venezuela is VES130. 00 per month in 2023. It became valid on March 15, 2022. The amounts are in Venezuelan Bolivar.
Detailed explanation-2: -Venezuela’s economy faltered while poverty, inflation and shortages in Venezuela increased. According to Martinez Lázaro, professor of economics at the IE Business School in Madrid, the economic woes Venezuela continued to suffer under Maduro would have occurred even if Chávez were still in power.
Detailed explanation-3: -It says that in 2022 the economy grew 15%, thanks to rising oil production along with President Maduro’s decision to relax price and currency controls and allow more transactions in foreign currencies. The Economic Commission for Latin America (Cepal) puts that growth at a more modest figure of 10%.