Read this news report about a planned devaluation of the bolivar, the currency of Venezuela. The president of Venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The official rate is falling from 4.3 bolivars to the dollar, to 6.3, a 32% devaluation. By increasing the bolivar value of exports of oil to the US and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending obligations. In response to the announcement, the people of Venezuela lined up today to buy televisions, electronics, and airline tickets in order to protect themselves from projected price increases. Venezuelans started buying items immediately because of their fear of
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democracy is a form of government in which the government is a form of government
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The above paragraph clearly states about the democratic nature of the government body.
In this system of the government rule, the complete set of population in the country or all the members who are eligible from the state have the right to select their governing bodies for a span of next five years.
In this case the rules impose by the ruling body was readily adopted by the people of the country.
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