Which of the following best describes the state of democracy in Latin America in the 1920s? 1. There were few, if any, genuine democracies in Latin America.
2. Most Latin American countries had democratic elections and substantial democratic freedoms.
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3. Most Latin American governments in the North were fully democratic, whereas those in the South were more likely to be authoritarian.
4. Most Latin American countries were not formally democratic but many liberties were nevertheless extended to their citizens.
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The price of oil and inflation are connected in a cause and effect relationship, that is, when the price of oil increases, inflation also increases in an economy. this is because, oil is a major input in the economy, that is, it is used for critical purposes such as fueling of vehicles for transportation, for running of industrial generators and machines, for heating homes, etc.for instance, if the price of oil increases in an economy, it will increase the cost of production for those using the oil in their production processes and they will automatically increase the cost of their products in order to offset the extra costs. this leads to general increase in the prices of products in the market and result in inflation.