Question 1

The Chinese economy was very successful in the Great Leap Forward.

Accepted Answer

The Great Leap Forward, launched by Mao Zedong in 1958, was an economic and social campaign aimed at transforming China into a socialist society through rapid industrialization and collectivization. However, it ended up being a disaster due to poor planning, inefficient agricultural practices, and widespread famine, resulting in an estimated 15-45 million deaths. The Chinese economy suffered greatly during this time, and it was not successful in achieving its goals.

Question 2

Because of careful planning, the former Soviet Union was able to avoid the pollution problems so evident in capitalism.

Accepted Answer

This statement is false. The former Soviet Union actually had severe pollution problems due to its heavy industry and lack of environmental regulations.

Question 3

The economy of China has been very slow to grow during its economic transition to market capitalism.

Accepted Answer

This statement is false. China's economy has actually grown at a very rapid pace during its economic transition, becoming one of the fastest-growing economies in the world.

Question 4

The Great Leap Forward was, in reality, a great leap backward economically for China.

Accepted Answer

The Great Leap Forward, launched in 1958, aimed to rapidly transform China from an agricultural economy to an industrial one through collectivization and mass mobilization. However, the program led to widespread famine, economic collapse, and social upheaval. Millions of people died, and the country's industrial output actually decreased during this period. Therefore, the Great Leap Forward was a great leap backward economically for China.

Question 5

Prices in Russia soon after the collapse of the former Soviet Union increased by 10-fold in 6 months.

Accepted Answer

This is true. After the collapse of the former Soviet Union, there was a period of rapid inflation and economic instability in Russia, which led to a significant increase in prices. According to some estimates, prices increased by more than 10-fold in just six months after the collapse.

Question 6

In the study of economics, free riders are defined as people or firms that consume a public good without paying for it. Given that definition, your study of command socialism, and in particular, your study of the former Soviet Union, evaluate and discuss in detail the following quote: "The collapse of the Soviet Union is an example, on a grand scale, of the logical outcome of the 'free-rider' problem."

Accepted Answer

The answer of In the study of economics, free riders...

Question 7

Write an essay on how the countries of the former Soviet Union might become successful in their efforts to make the transition to capitalism and the market system. Discuss what they must do and how they should do it.

Accepted Answer

The answer of Write an essay on how the countries...

Question 8

The economic performance of former Yugoslavia resulted in living standards lower than in the Soviet Union.

Accepted Answer

The answer of The economic performance of former Yugoslavia resulted...

Question 9

According to the text, China may very well become a market capitalist economy in the not-too-distant future.

Accepted Answer

The text states that China has been gradually moving towards a market capitalist economy and may fully transition in the future.

Question 10

The leaders of the former Soviet economies have a difficult time before them in implementing transition in part because there is no historical precedent for them to follow.

Accepted Answer

The statement is true. The former Soviet economies are transitioning from a socialist economic system to a market-oriented economy, which has not been previously attempted on this scale, making it challenging for leaders to implement new policies and structures.

Question 11

Discuss the relative successes and failures of Russia and China in their efforts to make the transition to market capitalism. Include in your answer an explanation of the different approaches and their different outcomes to date.

Accepted Answer

The answer of Discuss the relative successes and failures of...

Question 12

The former Soviet Union was characterized by outdated technologies, prices set too low, and persistent shortages.

Accepted Answer

This is true. The Soviet economic system was plagued by these issues, which contributed to its eventual collapse.

Question 13

Describe the functioning of planning under Gosplan, the central planning agency in the former Soviet Union and the problems inherent in such a system

Accepted Answer

The answer of Describe the functioning of planning under Gosplan,...

Question 14

China has achieved high economic growth rates and a strong democracy with many freedoms.

Accepted Answer

China's government is a one-party communist state, and while the country has experienced significant economic growth, it has limited political freedoms and human rights protections.

Question 15

The former Soviet Union was able to achieve impressive gains in GDP and was able to satisfy consumer demands at the same time.

Accepted Answer

While the former Soviet Union did achieve some gains in GDP, they did so by prioritizing heavy industry and military spending over consumer goods and services. The standard of living for average citizens was generally low and consumer demand was often not fully met.

Quiz 20: Socialist Economies in Transition