Improving the economy by getting companies to provide education & training for employees, ...

An investment in human capital will increase a country’s GDP

What are two things that would help Cuba move towards a market economy?

Private owned businesses, Less government control over economy

Which statement about the governments of Cuba, Mexico and Brazil is correct?

Cuba is autocratic while Mexico and Brazil are democratic.

In what ways are the basic types of economic systems of Mexico, Cuba and Brazil different?

Brazil & Mexico have mixed/market & Cuba has mixed/command.

What is the purpose of the North American Free Trade Agreement (NAFTA)?

to increase trade by doing away with tariffs

Improving economy by encouraging companies to invest in new computers & wireless comm. systems

An investment in capital goods will increase the GDP.

Natural resources are important to a country’s economy because

They allow businesses to use materials found in own country

How does literacy rate usually affect standard of living in a country?

Lower the literacy rate=lower standard of living

Which best describes how a parliamentary democracy differs from a presidential democracy?

The head of the government is a member of the legislature.

A lasting impact of the Cuban Revolution has been

Less political freedom for Cubans

Which statement explains how the Cuba’s economy works under a communist government?

The Communist Party controls the govt and all major business

Most countries have a mixed economy between pure market & command. What does this mean?

Blend of market & command economies/will be close to one end

What was one reaction the U.S. had to Cuba taking over property owned by Americans?

The U.S. put an embargo on Cuban goods

What almost caused a nuclear attack between the U.S. and the Soviet Union?

Castro let the Soviet Union to put nuclear missiles in Cuba

What role does the entrepreneur play in economics?

They create business & bring together factors of production

Which is not a reason that many people have emigrated to the U.S. from Central & South America?

too many jobs in their home country

How does specialization make trade possible between countries?

A country can make a product faster & cheaper to sell

In order for international trade to be successful, what is something all countries need to do?

Have a system in place for exchanging currencies.

Which of the following best describes a country with a market economy?

A person can start any legal business and charge any price

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Latin America Test 2 Review

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#embargo #tariff #quota #tradebarriers #government #economics #Cuba #Mexico #Brazil #poverty #drugs #migration #NAFTA

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Questions 25

Answers

1
Improving the economy by getting companies to provide education & training for employees, ...
An investment in human capital will increase a country’s GDP
Investment in entrepreneurs will spark creativity in country
Investment in capital goods will increase the country’s GDP
Investing in natural resources will help the country’s econ.
2
What are two things that would help Cuba move towards a market economy?
Government giving rations
Government owned businesses
Private owned businesses
Less government control over economy
3
In which system of government do the people directly elect the leader of the government?
parliamentary democracy
communist
dictatorship
presidential democracy
4
Which statement about the governments of Cuba, Mexico and Brazil is correct?
Cuba is autocratic while Mexico and Brazil are democratic.
All are autocratic.
Cuba and Brazil are democratic while Mexico is autocratic.
All are democratic.
5
What is a basic way citizens of a democratic nation can influence the government?
working
consuming goods
obeying laws
voting
6
In what ways are the basic types of economic systems of Mexico, Cuba and Brazil different?
Brazil & Mexico have mixed/market & Cuba has mixed/command.
Cuba and Brazil are mixed/command & Canada is mixed/market.
Mexico & Cuba are both traditional & Brazil has a mixed econ
Brazil & Cuba are command economies & Canada=traditional
7
What is the purpose of the North American Free Trade Agreement (NAFTA)?
Helps countries produce everything they need for themselves
to allow countries to get needed goods without having to pay
to keep countries from trading with Europe or Asia
to increase trade by doing away with tariffs
8
Improving economy by encouraging companies to invest in new computers & wireless comm. systems
An investment in human capital will increase a GDP.
An investment in capital goods will increase the GDP.
Adjusting exchange rate will increase profit a country makes
Embargo on tech. from other countries will help the economy.
9
Which government style is this? 1 person with power; citizens very little role in government?
Oligarchy
Democracy
Autocracy
Command
10
Natural resources are important to a country’s economy because
Economies w/out natural resources are always doomed to fail
They allow businesses to use materials found in own country
They allow for a wide variety of exports to other countries.
They alone determine a country’s GDP.
11
How does literacy rate usually affect standard of living in a country?
The higher literacy rate= lower standard of living.
Lower the literacy rate=lower standard of living
Lower literacy rate=higher standard of living.
The literacy rate does not affect the standard of living.
12
Which best describes how a parliamentary democracy differs from a presidential democracy?
There are usually two major political parties.
The head of the government is a member of the legislature.
There are state as well as national governments.
The legislature consists of two houses.
13
A lasting impact of the Cuban Revolution has been
More economic choices for the people
More leaders chosen by the people
Less political freedom for Cubans
Less need for trade with other countries
14
Which statement explains how the Cuba’s economy works under a communist government?
Workers share the profits of the companies that employ them
The Communist Party controls the govt and all major business
Communist Party controls the govt but business is private
Citizens vote in elections but the govt controls the economy
15
Most countries have a mixed economy between pure market & command. What does this mean?
Most countries have stores that sell goods only to the govt.
Blend of market & command economies/will be close to one end
Most countries have traditional economies (same old way).
Most countries have a pure command or pure market economy.
16
What was one reaction the U.S. had to Cuba taking over property owned by Americans?
The U.S. threatened a nuclear attack
Agree to limit the # of Cubans entering the U.S.
The U.S. wanted Cuba to trade with other countries
The U.S. put an embargo on Cuban goods
17
What almost caused a nuclear attack between the U.S. and the Soviet Union?
The Soviet Union wanted to show Cuba that they were friends
The U. S. wanted the sugar cane that the USSR got from Cuba
Castro let the Soviet Union to put nuclear missiles in Cuba
Pres. Kennedy did not like the leader of the Soviet Union
18
Which is not an impact of the Cuban Revolution?
The people of Cuba lost personal freedoms
Cuba sold more sugar cane
The U. S. instituted an embargo against Cuba
Cuba became allies with the Soviet Union
19
What role does the entrepreneur play in economics?
They train employees to have various skills.
They create business & bring together factors of production
They build the machines & technology needed for businesses.
They are responsible for hiring and managing employees.
20
Which is not a reason that many people have emigrated to the U.S. from Central & South America?
too few jobs in their home country
more educational opportunities in the U.S.
narcotics-driven gang violence in their home country
too many jobs in their home country
21
How does specialization make trade possible between countries?
A country can make a product faster & cheaper to sell
Countries that are friends will want to trade w/ each other
Specialization gets businesses to make a variety of items
Countries trade with countries that have the same type econ.
22
In order for international trade to be successful, what is something all countries need to do?
Have translators available for all buyers and sellers.
Have items available that countries will want to buy.
Hike up prices=countries will make more money off of items.
Have a system in place for exchanging currencies.
23
Brazil wants to put a limit on the shoes that can be imported from other countries. This is
quota
tariff
embargo
voluntary exchange
24
Which country is not a part of NAFTA?
Canada
Cuba
Mexico
United States
25
Which of the following best describes a country with a market economy?
The government provides food and housing to all workers
A person can start any legal business and charge any price
The government provides services, such as telephones and TV.
Things are done based on customs and traditions

Latin America Test 2 Review Flashcards | StudBud