Venezuela has developed its petroleum industry. Which statement is MOST LIKELY true? Venezuela

developed petroleum industry to compete in a global market.

Who is required to vote in Brazil?

Any citizens between 18 and 70 who can read

Entrepreneurs create new goods & services to start a business. Why is entrepreneurship hard?

There is a risk that the new business may fail.

Which describes the economic system in Mexico?

Individuals and corporations own most of the businesses

How did Cuba’s leader get his power?

Led a rebellion against the former govt.

Mexico invests in educational programs in manufacturing & production, What should happen?

Economic growth and GDP should increase.

As one of the factors of production/productive resources, capital can be defined as

the equipment and factories needed to produce goods.

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LA GovEcon

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Questions 23

Answers

1
Which is found in a market economy?
Competition
Government control of agriculture
Government control of industry
Guaranteed yearly pay raises
2
Who is the dictator that is working to restore relations between Cuba and the United States?
Eliminao Zapta
Raul Castro
Fidel Castro
Fulgencio Bastista
3
What is a basic way citizens of a democratic nation can influence the government?
Voting
Obeying laws
Consuming goods
Working
4
Venezuela has developed its petroleum industry. Which statement is MOST LIKELY true? Venezuela
Petroleum is not as valuable as it has been in the past.
developed petroleum industry to compete in a global market.
Petroleum is not important to Venezuela's economy.
developed its industry to support more important industries.
5
Who is required to vote in Brazil?
Citizens are not able to vote
Any citizens between 18 and 70 who can read
Only members of the leading political party
Every citizen who is 18 or older
6
What type of govt. and economy does Cuba have?
communist / mixed command
democratic / traditional
communist / command
democratic / market
7
North American Free Trade Agreement (NAFTA) promotes free trade between the United States,
United Kingdom, and Russia
Canada, and Mexico.
Mexico, and the islands of the Caribbean.
Canada, and the United Kingdom.
8
Which Latin American country has the lowest GDP?
Jamaica
Brazil
Cuba
Haiti
9
Canada and Mexico have both experienced what in their economy
Growth in their economies.
Increases in prices of consumer goods.
Decreases in quality of consumer goods
Increases in unemployment.
10
All citizens participate in Mexico’s government, this means they have which type of government?
Theocracy
Autocracy
Oligarchy
Federal
11
Starting a new business in Brazil is this related to?
natural resources
per capita income
human capital
entrepreneurship
12
Entrepreneurs create new goods & services to start a business. Why is entrepreneurship hard?
Motivation for profit may not be the best incentive.
Healthy competition encourages higher quality products.
There is a risk that the new business may fail.
There are laws that restrict most new businesses.
13
What kind of economies do Mexico and Brazil have? Are they growing or struggling?
mixed market / growing
pure market / growing
mixed / struggling
command / struggling
14
Chile has a natural resource. What would they concentrate on to make sure this is sold?
supply and demand
exporting copper
taxes and tariffs
importing more copper
15
What is Cuba’s most important product?
Sugarcane
Coffee
Tobacco
Water
16
Which country has the economic system closest to a pure market economy?
Brazil
Canada
Cuba
Venezuela
17
Which describes the economic system in Mexico?
Corporations are not allowed to do business in Mexico
Individuals and corporations own most of the businesses
Individuals cannot own a business or farm in Mexico
government owns & manages the businesses & farms in Mexico
18
How many political parties for Cuba have?
0
3
1
2
19
How did Cuba’s leader get his power?
Was elected by the citizens
Was appointed when the U.S. helped set up the new gov
Led a rebellion against the former govt.
Was appointed when the USSR helped set up a new govt.
20
Mexico invests in educational programs in manufacturing & production, What should happen?
Economic growth and GDP should slow down.
There would be no effect upon economic growth nor GDP.
Adults would move to the United States because of NAFTA.
Economic growth and GDP should increase.
21
Which country has the highest GDP in Latin America?
Brazil
Colombia
Mexico
Venezuela
22
As one of the factors of production/productive resources, capital can be defined as
the people that purchase goods and services.
the goods and services a business produces.
the equipment and factories needed to produce goods.
the supply of labor needed to produce goods.
23
Brazil has some reserved powers and shared powers. What type of government does Brazil have?
Confederation
Oligarchy
Federal
Unitary

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