Answered: Why did the Great Leap Forward fail? a.…

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter5: An Introduction To Macroeconomics

Section: Chapter Questions

Problem 1TY

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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.

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.

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