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Unformatted text preview: progressively more and more. d) You cant because according to the chart it is not possible. 7 a) b) The production possibilities frontier grows outward. 8. The Japanese put most of their resources into their economy, including the ones they would normally use for the armed forces. This generated their rapid growth. Chp 19 6. In a centrally planned economy, the government is the one who asks how, what, and for whom goods and services should be produced. It basically has total control of its economy. In a market economy, individuals make the decisions about how, what, and for whom goods and services should be produced....
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This note was uploaded on 04/07/2008 for the course ECON 202 taught by Professor Elnasser during the Spring '08 term at SUNY Fredonia.
- Spring '08