The New Policies Advanced by Deng

question 65

Multiple Choice

The new policies advanced by Deng

• A) were largely counterproductive, as employment and food production went down in the 1980s.
• B) roughly doubled China's per capita income during the 1980s
• C) combined economic collectivization and retaining political power in Communist hands.
• D) re-enforced the economic policies of Mao Zedong.
• E) "followed the socialist path."

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Definitions:

Gasoline Prices

The cost per unit volume of gasoline, often subject to fluctuations due to factors such as crude oil prices, taxes, and supply and demand.

Invisible Hand

A metaphor introduced by Adam Smith to describe the unintended social benefits resulting from individual actions when seeking personal gain.

Market Prices

The current price at which an asset or service can be bought or sold in the marketplace, determined by the forces of supply and demand.

Property Rights

Legal rights to possess, use, and dispose of assets.