8. What is true about specialization?

C. A factory can produce more goods in less time for less money because their workers know very well how to do a specific job.

A. Factories CANNOT produce goods quickly because their workers are constantly being moved asked to learn new positions.

B. Workers do NOT become experts in their jobs because they are not well trained.

D. Businesses will be quicker in selling their products in spite of the fact that their workers are disorganized.

12. What is the agreement between Mexico, Canada, and the United States that eliminated most trade barriers and increased trade?

B. North American Free Trade Agreement

D. North African Free Talk Agreement

E. North Atlantic Treaty Organization

13. Why do countries need to have a system for exchanging currency with other nations?

C. to know the value of their money compared to the value of other countries' money so they can trade goods

A. to have a uniform value of currency so they can identify what the value of goods are

B. to know which countries' currency has the greatest value so they can buy goods at the lowest cost

D. to have an international bank that converts the money of each country so countries can buy and sell goods

14. What is the purpose of the North American Free Trade Agreement?

C. to eliminate barriers to trade between countries in North America

A. to create a strategic alliance between countries in North America

B. to create a defensive alliance between countries in North America

D. to eliminate barriers to immigration between countries in North America

16. How do tariffs protect domestic producers?

D. by increasing the price of foreign competitors' products

A. by reducing the cost of domestic resources

B. by improving the efficiency of domestic production

C. by helping domestic producers access foreign markets

17. How do quotas protect domestic producers?

D. by decreasing the amount of foreign goods in domestic markets

A. by increasing production costs for foreign producers

B. by decreasing production costs for domestic producers

C. by increasing the amount of domestic goods in foreign markets

18. For many years, the United States maintained an embargo on Cuba. What was the purpose of this trade barrier?

B. to punish Cuba for its political alliances

A. to lower prices for American consumers

C. to protect domestic industries from competition

D. to raise the wages of workers in the United States

19. Read the text. Then answer the question that follows. Country X, a small country in Latin America, is a major exporter of oil, natural gas, and coal. The country has a modern, industrialized manufacturing sector and a thriving automobile industry. Rapid population growth coupled with a severe drought have led to food shortages and a sharp rise in grain prices. Which country should Country X trade with?

D. a country that specializes in agricultural production

A. a country that specializes in energy production

B. a country that specializes in car manufacturing

C. a country that specializes in textile manufacturing

20. What is the purpose of monetary exchange rates?

B. to compare the value of different types of currency

A. to compare the value of different types of goods

C. to help determine whether to impose a barrier to trade

D. to help determine which resources should be conserved

21. Adriana lives in Brazil. She is planning a trip to visit her sister, who recently moved to Mexico. She plans to take a taxi from the airport when she arrives in Mexico. What must she do in order to pay for the taxi?

B. exchange her Brazilian realis for Mexican pesos

A. get a job so that she can earn Mexican pesos

C. pay a travel tariff to the government of Mexico

D. pay a travel subsidy to the government of Mexico

22. Venezuela controls large deposits of oil. How does economic specialization affect oil production in Venezuela?

D. Venezuela focuses on producing oil and selling it to other countries to raise money for the government.

A. Venezuela produces only enough oil for its own needs in order to conserve it for the future.

B. Venezuela produces only enough oil for its own needs because it is difficult to ship internationally.

C. Venezuela focuses on importing the oil it uses in order to conserve its own supplies for the future.

23. How did the North American Free Trade Agreement affect the Mexican agricultural industry?

B. Many Mexicans lost their agricultural jobs due to increased competition from the United States.

A. Mexican agriculture expanded as farmers began shipping more goods to the United States.

C. Prices in Mexico increased due to increased tariffs on agricultural goods from the United tariffs on agricultural goods from the United States.

D. Mexican agricultural trade declined due to the agreement's quotas on trade with the United States

24. How did the North American Free Trade Agreement increase economic cooperation between Canada, Mexico, and the United States?

D. by eliminating barriers to trade

A. by reducing barriers to immigration

B. by imposing new tariffs on goods

C. by creating a common currency

25. Why do countries impose barriers to trade such as quotas?

A. to protect domestic industries from foreign competition

B. to improve trade relationships with other countries

C. to increase the efficiency of domestic producers

D. to lower the costs of goods for consumers

26. For decades, the United States embargoed trade with Cuba. What was the result of imposing the embargo?

C. All trade between Cuba and the United States became illegal.

A. The United States and Cuba grew closer economically.

B. The economies of both the United States and Cuba suffered.

D. Cubans were forced to pay a fee to trade with the United States.

27. Read the text and answer the question. In recent years, Mexican farmers have faced increasing competition from Brazilian producers. Mexican products are high quality and readily available ,but goods from Brazil are sold at lower prices. This has created increased demand for Brazilian agricultural goods in Mexico .How can the Mexican government help Mexican farmers the MOST?

A. It can make Brazilian agricultural goods more expensive by raising tariffs on them.

B. It can increase the amount of goods Mexico exports by embargoing trade with Brazil.

C. It can lower production costs for Mexican farmers by raising tariffs on Brazilian goods.

D. It can protect jobs in Mexico's farm industry by banning the export of agricultural goods.

Latin American Econ/Trade Barriers

Quiz

•

History, Social Studies

•

6th Grade

•

Practice Problem

•

Hard

Sarah Ingram

Used 62+ times

FREE Resource

28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What is true about literacy rate and the standard of living in a country?

A. The higher the literacy rate, the higher the standard of living

B. The lower the literacy rate, the higher the standard of living

C. There is no relationship between the two.

D. The higher the literacy rate, the lower the standard of living

E. The lower the literacy rate, the lower the Standard of living

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Brazil is building new factories and using new technology. These are examples of:

A. Investment in human capital

B. Investment in natural resources

C. Opportunity Costs

D. Investment in capital goods

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Which of the following BEST describes the relationship between literacy and poverty in Latin America and elsewhere?

A. Poverty increases literacy rates.

B. Poverty decreases literacy rates.

C. Low literacy rates increase poverty.

D. High literacy rates eliminate poverty.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Which of the following is NOT usually an effect of increased literacy?

A. People are able to get better jobs.

B. A nation's government weakens.

C. A nation's industry improves.

D. People are able to improve their lives.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. Why do low literacy rates in a country hinder that country's economic development?

A. They limit the volume of trade with other countries

B. They limit the natural resources the country controls

C. They limit the population's ability to perform skilled labor

D. They limit the government's ability to control information

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6.What would be the MOST effective way for the Brazilian government to improve the standard of living in the country?

A. The government should nationalize the country's major industries.

B. The government should increase investment in public education.

C. The government should create barriers to trade with other countries.

D. The government should spend less on investments in human capital.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. Sugar processing is one of Cuba's most important industries. However, production is often slowed by old, inefficient technology. Based on this information, what would would be the BEST way to improve the efficiency of Cuba's sugar industry?

A. investing in capital goods

B. investing in human capital

C. reducing quotas on foreign sugar

D. increasing tariffs on foreign sugar

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Latin American Econ/Trade Barriers

28 questions

1. What is true about literacy rate and the standard of living in a country?

2. Brazil is building new factories and using new technology. These are examples of:

3. Which of the following BEST describes the relationship between literacy and poverty in Latin America and elsewhere?

4. Which of the following is NOT usually an effect of increased literacy?

5. Why do low literacy rates in a country hinder that country's economic development?

6.What would be the MOST effective way for the Brazilian government to improve the standard of living in the country?

7. Sugar processing is one of Cuba's most important industries. However, production is often slowed by old, inefficient technology. Based on this information, what would would be the BEST way to improve the efficiency of Cuba's sugar industry?

8. What is true about specialization?

9. The United Nations has decided to limit the amount of equipment that can be sold to Iran for making nuclear fuel. This is an example of what trade barrier?

10. The United State prohibits all trade with Cuba. This is an example of the following trade barrier:

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