IBE316quiz1 - 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

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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 A) the combinations of goods an economy can produce, given its resources. B) the time lag between planning a product and completing its production. C) society’s preferred output mix as a function of market prices. D) the profit government could earn from alternative public enterprises. 4.
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This note was uploaded on 10/22/2011 for the course ECON 316 taught by Professor Keisukeotsu during the Spring '08 term at Sophia University.

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IBE316quiz1 - 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

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