6th Grade Latin American and Canadian Economies

Paying for an employee to go back to college is an example of

• investing in entrepreneurship.
• investing in human capital.
• investing in physical capital.
• investing in capital.

Why is Brazil able to export so many agricultural products?

• Brazil does not have a large population.
• Most people prefer to be farmers.
• Their natural resources include many agricultural products.
• Agriculture makes up most of Brazil's imports.

How did the agreement of NAFTA affect Canada?

• It created many low paying jobs in Canada.
• Jobs were relocated to the United States.
• It eliminated trade barriers with the United States and Mexico.
• It decreased imports to Canada.

Which of these actions would most likely lead to an increase in a country's gross domestic product (GDP)?

• Investing in machinery and technology.
• Importing a greater number of products.
• Adopting a more common currency type.
• Changing to a command economy.

In a mixed economy, people have many economic choices, but the government is involved in some aspects of the economy.  Which of the following is an example of how the government in Canada is involved in the economy?

• People are free to choose any career that they want.
• People get to choose how they want to spend their money.
• People have the right to purchase property.
• People have access to a publicly funded healthcare system.

What is the purpose of free trade partnerships like the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico?

• To allow countries to get needed goods without having to pay for them.
• To increase trade by doing away with tariffs.
• To help the countries produce everything they need for themselves.
• To keep the countries from trading with Europe or Asia.

Brazil's economy can best be described as

• mixed market economy
• command economy
• traditional economy
• market economy

In Cuba, many of its industries are controlled by the government, which means that the government decides what and how much to produce.  The government also sets prices for many goods and rations them to citizens.  What type of economic system exists in Cuba?

• market economy
• mixed economy
• traditional economy
• command economy

NAFTA is an example of which pattern of behavior among or between countries?

• forming trade agreements
• establishing trade quotas
• settling disputes
• imposing trade tariffs

Some people want to stop NAFTA for all of the following reasons except

• US job losses
• pollution
• small farmers in Mexico were put out of business
• it promotes competition