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- 1. Multiple Choice
Does Brazil or Cuba have a more favorable economic system for entrepreneurs? Why?
Brazil, because the Brazilian government directly controls almost all industries in Brazil.
Brazil, because the Cuban government directly controls almost all industries in Cuba.
Cuba, because the Brazilian government directly controls almost all industries in Brazil.
Cuba, because the Cuban government directly controls almost all industries in Cuba.
- 2. Multiple Choice
What factor hurts economic growth in Mexico the MOST?
labor shortages
government corruption
powerful labor unions
strict regulation
- 3. Multiple Choice
Which of the following countries has the least freedom to do business?
Brazil
Cuba
Canada
Mexico
All are abou the same
- 4. Multiple Choice
In what way are the Mexican and Brazilian economies similar?
They are both mixed economies.
They are both pure market economies.
They are both pure command economies.
They are both traditional economies.
- 5. Multiple Choice
In what way is Mexico's mixed economy like a command economy?
Private citizens cannot own businesses.
The government sets all production goals.
Foreign companies cannot invest in Mexico.
The government controls the energy industry.
- 6. Multiple Choice
Compared to the economy of Cuba, Brazil's economy more heavily features which characteristic?
free markets
price control
central planning
naturalized industries
- 7. Multiple Choice
What is true about specialization?
Factories CANNOT produce goods quickly because their workers are constantly being moved asked to learn new positions.
Workers do NOT become experts in their jobs because they are not well trained.
A factory can produce more goods in less time for less money because their workers know very well how to do a specific job.
Businesses will be quicker in selling their products in spite of the fact that their workers are disorganized.
- 8. Multiple Choice
For many years, the United States maintained an embargo on Cuba. What was the purpose of this trade barrier?
to lower prices for American consumers
to punish Cuba for its political alliances
to protect domestic industries from competition
to raise the wages of workers in the United States
- 9. Multiple Choice
The United State prohibits all trade with Cuba. This is an example of the following trade barrier:
tariff
quota
embargo
NAFTA
- 10. Multiple Choice
Which barrier to trade sets a limit on the number of certain goods that can be imported?
embargo
quota
tariff
NAFTA
sanction
- 11. Multiple Choice
Country A charges a 25% tax on automobiles imported into the country. This is an example of
tariff
quota
embargo
specialization
- 12. Multiple Choice
Which barrier to trade blocks all trade between nations?
embargo
tariff
quota
sanction
- 13. Multiple Choice
What is an example of a natural resource?
pizza
oil
education
cars
employers
- 14. Multiple Choice
A student decides to open his own lemonade stand in order to make money to buy an Xbox. This is an example of:
Human Capital
Capital Goods
Natural Resource
Entrepreneur
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