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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
command
C
barter
D
traditional
2) Brazil has __________ economic system that is about 53% free and 47% government intervention.
A
traditional
B
command
C
mixed market
D
Communist
3) This country has the largest economy in Latin America.
A
Chile
B
Brazil
C
Canada
D
Cuba
4) Cuba has a ________ economy that is 33% free and 77% government controlled.
A
agrarian
B
command
C
traditional
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
churches
B
U.S.
C
people
D
government
6) Since Cuba has a command economy, it has this type of government.
A
democratic
B
Communist
C
opportunistic
D
Socialist
7) Most countries in Latin America have this type of economy.
A
traditional
B
mixed market
C
agrarian
D
command
8) This is a tax on imported goods (a type of economic trade barrier).
A
tariff
B
command
C
embargo
D
quota
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
embargo
C
tariff
D
sanction
10) This a stop on trade with another country (a type of economic trade barrier).
A
tariff
B
embargo
C
quota
D
mountain
11) This is a trade agreement between Canada, the U.S., and Mexico.
A
OPEC
B
the North American handshake
C
the Big Agreement
D
NAFTA (North American Free Trade 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
import
B
quota
C
sell
D
give away
13) If a country has a high standard of living, they usually have a _______ also.
A
low employment rate
B
high unemployment rate
C
high literacy rate
D
NAFTA
14) When companies invest in human capital like education and training, the _________ goes up.
A
GDP (gross domestic product)
B
stock
C
currency
D
exchange rate
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
market economy
B
natural resources
C
a high literacy rate
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
dictator
B
store manager
C
entrepreneur
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
market economy; level of capital goods
B
tariff; quota
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
Standard of living
B
GDP
C
A high literacy rate
D
A tariff
19) __________ is the total value of the goods and services produced in a country during a specific period of time.
A
Natural resources
B
Gross Domestic Product (GDP)
C
Human capital
D
Literacy rate
20) __________ are man-made items not found in nature that are used to create goods or to perform services.
A
Natural resources
B
Human capital
C
Capital goods
D
Surplus
*select an answer for all questions
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