ECON 330 MCGANN FINAL EXAM 2025-2026
CURRENT VERSION QUESTIONS AND ACCURATE
VERIFIED ANSWERS GRADED A+
Which of the following EU member nations recently became the
first to sign on to China's Belt and Road Initiative?
A) Germany
B) Spain
C) Italy
D) Greece
-Answer-C) Italy
Commanding Heights refers to which of the following?
A) Capitalism and Democracy coexisting
B) Fascism in Italy
C) Government control over the major industries of an economy
D) Policies under Stalin that embraced greater use of market
forces
-Answer-C) Government control over the major industries of an
economy
Socialism can be best defined as:
A) A political and economic system that rewards virtue rather
than profit
B) A political system that ensures authoritarian control over
labor, capital, and natural resources
C) An economic system that involves state of collective
ownership of resources and a centralized means of distribution
D) An economic system that involves distribution of goods via
collectives known as "tribal communes"
,-Answer-C) An economic system that involves state of
collective ownership of resources and a centralized means of
distribution
"The ABC's of Communism" represents:
A) A book that served as a refutation of Marxism and a strategy
to advance the USSR from centrally planned to a more market-
based economy
B) A pamphlet to help households in Hungary better deal with
the post WWII transition to communism
C) A book whose primary objective was to inspire support for
communism among workers
D) An elementary school text used to indoctrinate students into
Marxism at a young age
-Answer-C) A book whose primary objective was to inspire
support for communism among workers
Which of the following is a typical goal of socialism?
A) Equality of wealth
B) Equality of income
C) Equality of consumption
D) Political equality
-Answer-C) Equality of consumption
The Soviet system was most like the US system in which of the
following ways?
A) Advancements in information technology
B) Punitive incentives for those that did not work
C) Material rewards for more productive managers
D) Government influence over individual rights
-Answer-C) Material rewards for more productive managers
, The moral philosopher most influential in the American style of
economics and politics is?
A) John Maynard Keynes
B) John Locke
C) Thomas Hobbes
D) Milton Friedman
-Answer-B) John Locke
Common law differs from Civil law in which of the following
ways?
A) Common law is man-made law; Civil law is government-
made law
B) Common law uses precedent whereas Civil law uses code
C) Common law uses juries whereas Civil law uses judges
D) Common law has its historical origins in the Roman Empire
whereas Civil law has its origin in Great England
-Answer-B) Common law uses precedent whereas Civil law uses
code
Homo Soveticus, as applied in the Soviet Union, can best be
exemplified by which of the following phases?
A) "Each man must carry the weight of the world on his
shoulders"
B) "You are part of something bigger than yourself"
C) "Work hard and you will reach your God-given potential"
D) "Ambition is at the heart of individual greatness"
-Answer-B) "You are part of something bigger than yourself"
Under planned socialism which of the following would the
Central Planning Board most prefer?
CURRENT VERSION QUESTIONS AND ACCURATE
VERIFIED ANSWERS GRADED A+
Which of the following EU member nations recently became the
first to sign on to China's Belt and Road Initiative?
A) Germany
B) Spain
C) Italy
D) Greece
-Answer-C) Italy
Commanding Heights refers to which of the following?
A) Capitalism and Democracy coexisting
B) Fascism in Italy
C) Government control over the major industries of an economy
D) Policies under Stalin that embraced greater use of market
forces
-Answer-C) Government control over the major industries of an
economy
Socialism can be best defined as:
A) A political and economic system that rewards virtue rather
than profit
B) A political system that ensures authoritarian control over
labor, capital, and natural resources
C) An economic system that involves state of collective
ownership of resources and a centralized means of distribution
D) An economic system that involves distribution of goods via
collectives known as "tribal communes"
,-Answer-C) An economic system that involves state of
collective ownership of resources and a centralized means of
distribution
"The ABC's of Communism" represents:
A) A book that served as a refutation of Marxism and a strategy
to advance the USSR from centrally planned to a more market-
based economy
B) A pamphlet to help households in Hungary better deal with
the post WWII transition to communism
C) A book whose primary objective was to inspire support for
communism among workers
D) An elementary school text used to indoctrinate students into
Marxism at a young age
-Answer-C) A book whose primary objective was to inspire
support for communism among workers
Which of the following is a typical goal of socialism?
A) Equality of wealth
B) Equality of income
C) Equality of consumption
D) Political equality
-Answer-C) Equality of consumption
The Soviet system was most like the US system in which of the
following ways?
A) Advancements in information technology
B) Punitive incentives for those that did not work
C) Material rewards for more productive managers
D) Government influence over individual rights
-Answer-C) Material rewards for more productive managers
, The moral philosopher most influential in the American style of
economics and politics is?
A) John Maynard Keynes
B) John Locke
C) Thomas Hobbes
D) Milton Friedman
-Answer-B) John Locke
Common law differs from Civil law in which of the following
ways?
A) Common law is man-made law; Civil law is government-
made law
B) Common law uses precedent whereas Civil law uses code
C) Common law uses juries whereas Civil law uses judges
D) Common law has its historical origins in the Roman Empire
whereas Civil law has its origin in Great England
-Answer-B) Common law uses precedent whereas Civil law uses
code
Homo Soveticus, as applied in the Soviet Union, can best be
exemplified by which of the following phases?
A) "Each man must carry the weight of the world on his
shoulders"
B) "You are part of something bigger than yourself"
C) "Work hard and you will reach your God-given potential"
D) "Ambition is at the heart of individual greatness"
-Answer-B) "You are part of something bigger than yourself"
Under planned socialism which of the following would the
Central Planning Board most prefer?
