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Latin America Government and Economics Review

Quiz by Philip Lyons

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21 questions
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  • Q1

    Mexico is investing in capital resources by building new factories and using newer technology. What will be the economic result?

    There will be no change.

    There will be Opportunity Cost and GDP will lower

    Human Capital investment will Increase their GDP

    Capital Goods investment will increase GDP

  • Q2

    If a country (like Cuba) is more Command Leaning on the Economic Continuum, what has to happen in order to make a move to be a more Market/Free Leaning Economy on the Continuum?

    Decreasing personal income tax rates

    Increasing per capita income by not allowing a free market

    Increasing incentives to trade

    Decreasing government involvement in key industries

  • Q3

    How does investment in capital resources by companies help a country increase its GDP?

    They buy machines that produce more goods at a lower price so their profits are higher

    Companies that invest in capital are able to create more entrepreneurs

    When they spend more on capital resources, they pay higher taxes

    Companies are able to send work to foreign countries where labor is cheaper

  • Q4

    How does specialization encourage trade between countries

    Allows countries to establish success on one product and sell it to other countries that may need it

    creates an assortment of products in one country and very few products in others

    Produces such a plethora of ONE product that the country is forced to trade

    Uses different natural resources that are shared between multiple countries

  • Q5

    Marco is an Coffee Bean Farmer in a nearby larger town. He has decided his own small town needs its Coffee Bean Company. Marco bought the building and opened his Store selling his home grown coffee beans. Marco is an example of




    Business Worker

  • Q6

    The BEST indication that Brazil’s standard of living was improving is __________.

    Increase in saving the Rainforest

    Decreased Population

    Increase in Literacy Rates

    Increase in International Trade

  • Q7

    The USMCA benefits the economies of the member nations by __________.

    Identifying products to trade

    Removing barriers

    Setting specific prices

    Establishing tariffs

  • Q8

    What is the BEST way to describe Brazil's government involvement with the economy?

    Strictly regulates and controls all businesses.

    People can start and run businesses with limited government involvement.

    Businesses pay no taxes to the government.

    Pays for the startup of businesses. = No need for entrepreneurs

  • Q9

    What type of government does Brazil have?

    Constitutional Monarchy


    Parliamentary Democracy

    Presidential Democracy

  • Q10

    What type of government does Cuba have?

    Presidential Democracy


    Constitutional Monarchy

    Parliamentary Democracy

  • Q11

    What type of government does Mexico have?

    Presidential Democracy

    Constitutional Monarchy


    Parliamentary Democracy

  • Q12

    __________ AND __________ is a country with the strictest (MANDATORY) voting.

    Users sort answers between categories
  • Q13

    What is an EXAMPLE of specialization?

    A country buying ALL the goods needed from other countries without producing any on its own.

    A company that makes MANY different types of goods

    A book maker completes the process of making a book from cutting a tree for wood to producing his own paper

    A factory focuses on making one or two types of goods and leaves the production of other goods to other factories

  • Q14

    Which of the following countries have a similar government?

    None Listed

    Brazil and Mexico

    Cuba and Brazil

    Cuba and Mexico

  • Q15

    __________ means that the citizens have a very limited role. The government is in complete control.






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