Latin America Review

One of the main purposes of the North American Free Trade Agreement (NAFTA) was to ______________________.

• Increase trade by getting rid of trade barriers

• Create many tariffs between the United States, Canada and Mexico.

• Decrease the standard of living for people in all countries.

• Keep people in each country from trading with one another.

If Cuba found a large amount of oil and they decide to only produce oil they are doing what?

• specializing in oil

• putting tariffs on the oil

• putting a limit on the oil

• none of the above

Cuba's president is appointed by the Cuban Communist Party, is an example of what type of government?

• confederation

• federal

• democracy

• autocratic

Someone who decides to open a business because they see a need in it, and want to take that risk. This person is a ______________

• citizen

• entrepreneur

• good tradesman

• none of the above

If you are investing money into new machinery and upgrading technology you are investing in ______________

• human capital

• natural resources

• standard of living

• capital goods

Sending jobs from United States to Mexico is a negative effect of what?

• The Iran Deal

• North American Free Trade Agreement (NAFTA)

• The Cuban Missile Crisis

• Vietnam War

Cuba leans more toward what type of economy

• market

• mixed

• traditional

• command

Who decides how to produce goods in Mixed economy?

• Businesses have all the control

• Government has all the control

• Businesses decide but government regulates it

• None of the above

What type of economy does Cuba have and who answers the economic questions?

• Command; government

• Traditional; based on traditions

• Market; private businesses

• Mixed; government

If a country votes for their leaders and lawmakers they have a _______________________.

• Parliamentary Democracy

• Autocratic

• oligarchy

• Presidential Democracy