Question

chapter 19 quiz
0:29:49 remaining
despite many negative feelings, a number of governments have decided that reducing barriers to trade is at least potentially beneficial to their economy. which of the following is an example of countries reducing barriers through free trade?
nafta
nato
g20
gto
question 2 (1 point)
listen
countries have strong differences in economic institutions: the u.s. is extremely ____________, cuba has a ____________ and canada is a mixture of both.
high - income; low - income
technological; shortage of technology
market - oriented; command economy
regulated; lack of regulation
question 3 (1 point)

Explanation:

1. For Question 1: NAFTA (North American Free Trade Agreement) was a treaty designed to eliminate trade barriers between the U.S., Canada, and Mexico. NATO is a military alliance, G20 is a forum for economic cooperation, and GTO is not a major free trade initiative.
2. For Question 2: The U.S. economy is defined by private ownership and market forces, making it market-oriented. Cuba's economy is centrally planned, a command economy, where the government controls most production and distribution.

Answer:

1. NAFTA
2. market-oriented; command economy