Latin America Government and Economics

What is the main purpose of NAFTA?

• Increase trade

• increase quota

What does NAFTA stand for?

• National Free Trade Agreement

• South America Free Trade Agreement

• North American Free Trade Agreement

Why did US place an embargo on Cuba?

• to protect domestic industries from competition

• to support Cuba for its political alliances

• to punish Cuba for its political alliances

A ban on trade is?

• tariff

• quota

• embargo

why would a government set a quota on foreign goods?

• To protect another's country businesses from competition

• To protect its own businesses from competition

• To protect its own natural resources

Does Brazil or Cuba have a more favorable economic system for entrepreneurs?

• Neither

• Cuba because the Brazil government directly controls almost all industries in Cuba.

• Brazil, because the Cuban government controls almost all industries in Cuba.

What would be an example of investments in human capital?

• computers

• Providing workers with education and training

Which is MOST likely to be true about Mexico's high literacy rate?

• A high standard of living

• A low standard of living

What does Gross Domestic Product (GDP) describe?

• The total value of all goods and services produced in a country in a calendar year

• The total value of all goods and services produced in a country in a calendar month

The economics system of communist countries is most closely related to which type of economic system?

• command

• mixed

• market