Social Studies Review

What was one of the most significant transformations in Ecuador between 1950 and 1980?

• Growth of cities

• Growth of agricultural industry

• Growth of indigenous population

• Growth of rural areas

Which city in Ecuador grew the most during this period and is currently the most populated?

• Cuenca

• Manta

• Guayaquil

• Loja

What event in 1972 marked a dramatic change in Ecuador's national economy?

• The massive export of bananas

• The arrival of a new currency

• The first major shipment of oil from the Amazon

• The signing of a trade treaty

What consequence did the increase in oil prices by OPEC in 1970 have on Ecuador?

• Increase in global economic crisis

• Decrease in poverty

• Increase in investment in education

• Reduction of external debt

What unpopular measure did the military government take in response to the decrease in budgetary income?

• Increase in public salaries

• Suspension of subsidies and freezing of salaries

• Investment in infrastructure

• Reduction of taxes

What decade is known as 'the lost decade' in Ecuador due to economic adjustment policies?

• 1960s

• 1990s

• 1980s

• 1970s

What happened in the year 2000 that forced Ecuador to adopt the dollar as its currency?

• Banking crisis

• Increase in exports

• Foreign invasion

• Loss of local currency

Which social sector benefited the most from oil revenues in Ecuador?

• Sector industrial

• Sector urban

• Sector of services

• Sector rural

What model was promoted in Ecuador during the oil boom that contributed to the depletion of foreign exchange reserves?

• Model sustainable

• Conservationist model

• Consumerist model

• Community model

What happened to the large accumulated capital in the private sector during this period in Ecuador?

• It was allocated to social projects

• National investment was promoted

• It was taken abroad

• It was reinvested in the country