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Economic Systems Of Mexico, Brazil, And Cuba
Test Description: Economic systems of Mexico, Brazil, and Cuba
Instructions: Answer all questions to get your test result.
1) Mexico has a __________ economy where citizens are generally free to make their own economic decisions.
A
mixed market
B
traditional
C
barter
D
command
2) Brazil has __________ economic system that is about 53% free and 47% government intervention.
A
mixed market
B
Communist
C
command
D
traditional
3) This country has the largest economy in Latin America.
A
Canada
B
Cuba
C
Chile
D
Brazil
4) Cuba has a ________ economy that is 33% free and 77% government controlled.
A
command
B
traditional
C
agrarian
D
market
5) Since it has a command economy, the three economic decisions (what to produce, how to produce, for whom to produce) are made by the Cuban ______________
A
people
B
government
C
U.S.
D
churches
6) Since Cuba has a command economy, it has this type of government.
A
Socialist
B
Communist
C
opportunistic
D
democratic
7) Most countries in Latin America have this type of economy.
A
traditional
B
agrarian
C
command
D
mixed market
8) This is a tax on imported goods (a type of economic trade barrier).
A
tariff
B
command
C
quota
D
embargo
9) This is a limit on the number of goods that can be imported from a foreign country (a type of economic trade barrier).
A
quota
B
tariff
C
sanction
D
embargo
10) This a stop on trade with another country (a type of economic trade barrier).
A
mountain
B
tariff
C
embargo
D
quota
11) This is a trade agreement between Canada, the U.S., and Mexico.
A
NAFTA (North American Free Trade Agreement)
B
the North American handshake
C
OPEC
D
the Big Agreement
12) Because Cuba doesn’t have a lot of natural resources, they have to _________ or buy and bring into Cuba a lot of goods and services.
A
sell
B
import
C
give away
D
quota
13) If a country has a high standard of living, they usually have a _______ also.
A
low employment rate
B
NAFTA
C
high unemployment rate
D
high literacy rate
14) When companies invest in human capital like education and training, the _________ goes up.
A
exchange rate
B
currency
C
stock
D
GDP (gross domestic product)
15) When a country has __________ like lumber and minerals, they don't have to import as many raw materials and finished goods from other countries.
A
a high literacy rate
B
natural resources
C
market economy
D
capital goods
16) An ____________ is someone who decides to create or run a business, even though he or she might lose some money.
A
store manager
B
entrepreneur
C
dictator
D
prime minister
17) When a country has a high ______________ (percentage of people who can read and write), they usually also have a high ____________.
A
tariff; quota
B
market economy; level of capital goods
C
literacy rate; GDP
D
standard of living; taxes
18) ___________________usually refers to the economic level of an individual, a family, or a country.
A
A tariff
B
Standard of living
C
A high literacy rate
D
GDP
19) __________ is the total value of the goods and services produced in a country during a specific period of time.
A
Literacy rate
B
Gross Domestic Product (GDP)
C
Human capital
D
Natural resources
20) __________ are man-made items not found in nature that are used to create goods or to perform services.
A
Natural resources
B
Surplus
C
Human capital
D
Capital goods
*select an answer for all questions
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