Question 1

Karl Marx viewed socialism only as a transition to the ideal state of communism.

Accepted Answer

A) True 
 B)False

Question 2

Adam Smith wrote that the:

Accepted Answer

A)  economic problems of eighteenth-century England were caused by free markets.
B)  government should control the economy.
C)  pursuit of private self interest promotes the public interest in a market economy.
D)  public or collective interest is not promoted by people pursuing their self interest.E) A) and C)
F) All of the above

Question 3

A strength of the market economy is that:

Accepted Answer

A)  it results in an equal distribution of wealth.
B)  resources are used efficiently.
C)  planners rather than consumers determine answers to the basic economic questions.
D)  information for production and distribution decisions passes directly from the government to buyers.E) All of the above
F) C) and D)

Question 4

Which nation achieved the ideal communist society as described by Marx?

Accepted Answer

A)  Castro's Cuba.
B)  Mao's China.
C)  Stalin's Soviet Union.
D)  No nation has achieved Marx's vision of communist society.E) A) and D)
F) C) and D)

Exam 19: Economies in Transition

Karl Marx viewed socialism only as a transition to the ideal state of communism.

Correct Answer
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Which nation achieved the ideal communist society as described by Marx?

Correct Answer
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A strength of the market economy is that:

Correct Answer
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Adam Smith wrote that the:

Correct Answer
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Exam 19: Economies in Transition

Karl Marx viewed socialism only as a transition to the ideal state of communism.

Correct AnswerverifiedShow Answer

Which nation achieved the ideal communist society as described by Marx?

Correct AnswerverifiedShow Answer

A strength of the market economy is that:

Correct AnswerverifiedShow Answer

Adam Smith wrote that the:

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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