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IBE316quiz1 - IBE316 Economic Policy Quiz#1 Name ID 1 A...

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IBE316: Economic Policy Quiz #1 Name: ID: 1. A mixed economy is one in which A) both industrial and service sectors are important. B) both labor and capital contribute significantly to production. C) both government and private firms play important economic roles. D) a centralized government controls economic activity and produces some military goods and some consumer goods . 2. An economic model tries to A) include in detail all known features of some part of the economy. B) confuse students studying economic policy. C) reflect the important features of some part of the real economy. D) do all of the above. 3. A production possibilities curve shows
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