Latin America Economics Quiz

Why did the US put an embargo on Cuba in the 1960s?

• To tax imports from Cuba

• Because they wanted to join the US as another state

• To help Cuba increase trade with other countries

• To help stop the spread of communism

Which country has the largest economy in Latin America?

• Brazil

• Mexico

• Cuba

What is Mexico's most valuable resource?

• Arable land

• Silver

• Oil

• Gold

Which country has the second largest economy in Latin America?

• Panama

• Cuba

• Brazil

• Mexico

GDP per capita means gross domestic product for ______ in a country.

• job-training programs

• each person

• salaries

• natural resources

The United States charges special taxes on Mexican avacadoes and citrus brought across the US-Mexican border. What type of trade barrier is this?

• opportunity cost

• embargo

• quota

• tariff

Which country has not had positive economic growth in decades?

• Chile

• Mexico

• Cuba

• Brazil

Which of these is a correct description of one of the ways in which a command economy differs from a market economy?

• In a command economy, individuals have much less economic freedom

• Market economies discourage free enterprise

• Command economies tend to have a higher per capita GDP

• In a market economy, the government sets prices.

Read the statements below to answer the question:

Based on customs and beliefs

Uses bartering to trade

Tribes in the Amazon Rainforest practice this

• Mixed Economy

• Traditional Economy

• Market Economy

• Command Economy

Cuba has made large investments in

• GDP per capita

• capital goods

• technology

• human capital