Why did the Great Leap Forward fail? a. Crop failures and poor planning b. Privatization of companies owned by the government c. US tried to enlarge its influence in Asia. d. The strategy deviated drastically from a similar strategy implemented in the Soviet Union.

Why did the Great Leap Forward fail? a. Crop failures and poor planning b. Privatization of companies owned by the government c. US tried to enlarge its influence in Asia. d. The strategy deviated drastically from a similar strategy implemented in the Soviet Union.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 11P

See similar textbooks

Related questions

Q: Four of the determinants of economic growth relate to supply side, i.e. the physical ability of the…

A: Economic growth is defined as an increase in the production of economic goods and services in an…

Q: 10. What policies can the government of a free-market economy implement to stimulate economic…

A: Economic growth refers to the expansion in the production of the goods and services in the economy…

Q: How does the role of government influence economic growth? As the size of government increases as a…

A: The role of the government in the economy tends to address business failures or conditions where the…

Q: Economic growth. Two key sources of economic growth have been due to increases in resources and…

A: Hey, Thank you for the question. According to our policy we can only answer 1 question per session.…

Q: In a competitive labour market, businesses seek to maximize profits at the least cost (ie.…

A: In a competitive labor market , a firm maximizes its profits and optimizes its input costs at the…

Q: The following public policies can facilitate economic growth in an economy. Give a definition for…

A: Concept of public policy- The combination of laws, actions, regulations, policies, and other…

Q: How does increasing the level of public education spending typically affect the long- term economic…

A: The issue is to distinguish the effect of expanding state-funded schooling spending on the drawn out…

Q: Why economic growth is one of the goals of macroeconomics?

A: Macroeconomics is the division of economics that talks about the economy as a whole. In this, the…

Q: In what role do you think does savings and investments play in the economy? Explain your answer. In…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: a.Explain in detail, what we could do to avoid each of those 5 factors causing our GDP growth rates…

A: a) The factor that leads to Fall in GDP are as follows:Fall in Aggregate demand: The fall in…

Q: 3. Write down and discuss the three stylized facts about economic growth in the cross-sectional…

A: Economic growth means more production of goods and services that increases the productivity in an…

Q: Suppose, due to the effects of a military conflict that has ended, that a country experiences a…

A: A part of the nation's wealth, which contributes to the production process and generation of income…

Q: Which of the following statements is most accurate about advanced economies? A. Economies…

A: Advanced economies: - Advanced economies are the economically developed countries of the world.

Q: According to 2019 data, Japan will continue to be the most aged country in the world until 2050.…

A: In Japan, it is said thatthe labor force will decrease by 13 million by 2040.

Q: Which of the following situations is not a macroeconomic objective? a. economic efficiency b.…

A: Desclaimer , You posted the multiple questions , we are supposed to solve the 1st questions only .…

Q: What is the likely effect of increasing public investment in higher education on a country's…

A: The issue is to determine the effect of expanded public interest in advanced education on a nation's…

Q: How does this pandemic affect economic growth? Propose and discuss at least 5 actions that you…

A: Vietn am's economic development is relied upon to dial back because of a resurgence of the Covid…

Q: The term demographic transition refers to ____. a. the slowing down in the growth of a…

A: Demographic Transition is a model that is used to identify changes in the human population.

Q: Part 1 - Practice Questions 1. Suppose that a country enacts a tax policy that discourages…

A: The Solow Growth Model or exogenous model of economic growth that studies changes in the level of…

Q: Thomas Malthus presented a dismal forecast for man-kind, largely due to the effects of population…

A: As per Malthusian theory, population increases exponentially but food supply arithmetically.…

Q: 1) The following public policies can facilitate economic growth in an economy. For each policy, give…

A: Public policies are the actions or laws made by the government in response to the public of the…

Q: Countries like finlamd and norway are unlikely to suffere from the scarcity problem as defined in…

A: Financial Balloon in the economy is a situation where there is sudden surge in the prices of assets…

Question

The demographic dividend has three main effects on economic growth. Which of the following is NOT one of these
effects?
a. mechanical effect c. savings effect
b. social effect d. human capital effect

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define What is Great Leap Forward

VIEW

Step 2: Explain the correct option

VIEW

Step 3: Explain why other options are incorrect

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Which of the following situations is not a macroeconomic objective? a. economic efficiency b. economic growth c. balanced budget deficit d. equitable distribution of income 2. Which of the following is an essential factor for the continuous growth process in the economy? a. government planning for what the country will produce b. the absence of private property c. research and development of new technologies and investment in new capital d. government intervention in economic activity 3. Which of the following alternatives measures the standard or standard of living? a. real gross domestic product b. per capita gross domestic product c. gross national product d. disposable income
Select one or more: a. The trend growth rate over the period was around 2.14 % per annum. b. The graph shows that in 1950 UK GDP per capita was about £8.75. c. When actual output is below trend output the economy is in recession. d. The trend growth rate over the period was 0.9889% per annum.
Which of the following statements is most accurate about advanced economies? A. Economies experience a positive growth trend over the short run but experience significant variability in the long run. B. Economies experience a positive growth trend over the long run but experience significant variability in the short run. C. Economies experience positive and stable growth over both the long run and short run. D. Economies experience little long-run growth in output but can experience significant growth in the short run.
How does increasing the level of public education spending typically affect the long- term economic growth of a country? A. It has no effect on long-term economic growth. B. It reduces long-term economic growth due to higher taxes. C. It increases long-term economic growth by improving the workforce's skills and knowledge. D. It initially boosts economic growth but leads to a decline in productivity over time.
Give the point of view of Joseph Schumpeter on economic development. Explain the pros and cons.
Four of the determinants of economic growth relate to supply side, i.e. the physical ability of the economy to produce. Which of the following is not one of those? Select one: a. Increases in the quantity and quality of natural resources. b. Increases in the supply (or stock) of capital goods. c. Improvements in technology. d. Increases in the quantity and quality of human resources. e. Efficient financial institutions
What is the likely effect of increasing public investment in higher education on a country's long-term economic growth? A. It will lead to a decrease in economic growth due to higher taxes. B. It will have no effect on economic growth. C. It will lead to higher long-term economic growth due to an improved labor force. D. It will initially boost economic growth but lead to a decline in the long run.
Suppose, due to the effects of a military conflict that has ended, that a country experiences a large reduction in its capital stock. Assume no other effects of this event on the economy. Which of the following will tend to occur as the economy adjusts to this situation? Question 5Select one: A. a relatively low growth rate for some time B. a relative high growth rate for some time C. zero growth for some time, followed by a gradually increasing growth rate D. positive growth, followed by negative growth, and then zero growth E. none of these
Economic growth. Two key sources of economic growth have been due to increases in resources and increases in productivity. a. Please explain 5 factors that might contribute to falling U.S. GDP growth rates. b. Explain in detail, what we could do to avoid each of those 5 factors causing our GDP growth rates to fall. c. Please explain 5 factors that might contribute to rising U.S. GDP growth rates. d.Explain in detail, what we could do to cause each of the 5 factors to happen and cause our GDP growth rate to increase.
10. What policies can the government of a free-market economy implement to stimulate economic growth? 11. Why does stagflation create such a dilemma for policy makers?
1) The following public policies can facilitate economic growth in an economy. Give a definition for each policy. a. Distributive b. Redistributive c. Regulatory and substantive policies
1) The following public policies can facilitate economic growth in an economy. For each policy, give a reason for why this is possible. a. Distributive b. Redistributive c. Regulatory and substantive policies