Government and Economic of Latin America Study Guide Answers 2017

  1. What is Cuba’s main export today?sugarcane
  2. Who is Cuba’s major trading partner today?Venezuela
  3. How did the Cuban Revolution change the relationship between the U.S. and Cuba in the 1960s?the U.S. placed an embargo on trade with Cuba after Cuba’s government seized American owned property
  4. What type of government does Cuba have today?An autocracy (communist dictatorship)
  5. What is the name of the legislature in Brazil and Mexico?Congress
  6. How is the president of Brazil chosen?Elected by the citizens
  7. Which country requires citizens between the ages of 18-70 to vote?Brazil
  8. What is the name of the one political party in Cuba?Communist Party
  9. What type of government do Brazil and Mexico have today?Federal government with a presidential democracy
  10. In which economy are the customs and habits of the past most important in deciding what will be produced?traditional
  11. In a command economy who usually owns the farms and the factories? government
  12. What type of economies do Mexico and Brazil have? Market
  13. Where on the types of economies continuum do you find Cuba? Closest to the command end
  14. What is the main purpose of NAFTA?Increase trade between the U.S., Mexico and Canada by creating a large free trade zone
  15. What type of economy has centralized planning groups that decide what types of goods are going to be produced and how? Command
  1. What type of economy is a blend between a command economy and a market economy? Mixed
  2. What type of standard of living is usually found in a country with a high literacy rate?A high standard of living
  3. What usually happens to a country’s GDP and standard of living if it invests in human and physical capital? The GDP goes up (improves)
  4. Why does Mexico have more entrepreneurs than Cuba?Mexico has a market economy and allows people to easily start their own businesses while Cuba has a command economy and the government owns most of the businesses
  5. In which type of democracy do the people elect the chief executive and the members of the legislature?Presidential democracy
  6. What are three examples of trade barriers?Tariffs, quotas, and embargos
  7. How does an autocratic government limit citizen participation in government?Citizens are not allowed to vote for their leader and usually can’t run for office
  8. In which economic system do consumers make economic decisions based on changes in price that occur between buyers and sellers?Market
  9. What type of investment is a company making if they provide training for their workers and good healthcare?Investment in human capital
  10. What type of government puts the power of the government into the hands of the people by allowing citizens to vote for representatives and run for office?An autocracy

** Know what types of governments and economies are found in Mexico, Brazil, and Cuba