The Great Leap Forward

question 11

Multiple Choice

The Great Leap Forward

• A) was an attempt to quickly propel China's economic development to the level of Western countries like the United States and Britain.
• B) was initiated because Mao was unhappy with the effects of certain Soviet-style programs.
• C) relied upon China's massive labor power.
• D) ultimately resulted in a rural famine and an industrial depression.
• E) All of the above statements are true.

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Definitions:

Fiscal Policy

Government policies related to revenue generation (taxation) and expenditure to influence the economy.

Monetary Policy

The process by which a country's central bank controls the supply of money, often targeting inflation or interest rates to ensure economic stability.

Federal Reserve Bank

The central banking system of the United States, responsible for monetary policy, regulation of banks, and providing financial services.

Gross Domestic Product

The aggregate value of all products and services finished within a nation's boundaries over a distinct timeframe, measured in monetary or market terms.