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    what restriction would the government impose in a closed economy? the government would prohibit trade with other nations. the government would set the prices for imported goods. the government would preserve traditional customs only. the government would prevent private ownership of property.

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    What are the pros of a mixed market economy for most citizens? CHECK ALL THAT APPLY.The government provides most basic necessities for citizens.There is a great deal of independence and personal choice.There may be less of a gap between rich and poor people.The government cannot dictate which jobs citizens hold.There may be greater opportunity to become wealthy.The economic system works to promote equality.
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    There is a great deal of independence and personal choice.The government cannot dictate which jobs citizens hold.There may be greater opportunity to become wealthy.
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    Read the paragraph below, and then decide which type of economy is being described.In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs.What type of economy is being described?a traditional economya free market economya mixed-market economya command economy
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    A. A Traditional Economy
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    Terms in this set (18)
    What are the pros of a mixed market economy for most citizens? CHECK ALL THAT APPLY.The government provides most basic necessities for citizens.There is a great deal of independence and personal choice.There may be less of a gap between rich and poor people.The government cannot dictate which jobs citizens hold.There may be greater opportunity to become wealthy.The economic system works to promote equality.There is a great deal of independence and personal choice.The government cannot dictate which jobs citizens hold.There may be greater opportunity to become wealthy.
    Read the paragraph below, and then decide which type of economy is being described.In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs.What type of economy is being described?a traditional economya free market economya mixed-market economya command economyA. A Traditional Economy
    What restriction would the government impose in a closed economy?The government would prohibit trade with other nations.The government would set the prices for imported goods.The government would preserve traditional customs only.The government would prevent private ownership of property.The government would prohibit trade with other nations.
    In a communist command economy, workers are employed bythe agencies.the consumers.the producers.the state.the state
    Which nation has a command economy?CubaNorwaySouth Koreathe United StatesCuba
    How does the economy of Cuba differ from the economy of North Korea?In North Korea, the government's control of the economy has begun to loosen. In Cuba, the government maintains a tight hold over the economy.In Cuba, the government's control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.In North Korea, there is economic uncertainty in exchange for individual choice. In Cuba, there is economic security in exchange for government control.In Cuba, there is economic uncertainty in exchange for individual choice. In North Korea, there is economic security in exchange for government control.In Cuba, the government's control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.
    What is prohibited in a command economy? CHECK ALL THAT APPLY.the control of prices and income levelsthe rationing of manufactured goodsthe personal ownership of propertythe influence of consumer demandthe intervention of the governmentthe personal ownership of propertythe influence of consumer demand
    The most common economic system in the world is aclosed economy.command economy.mixed market economy.traditional economy.mixed market economy
    How does the government of a republic typically shape its economy?The government allows citizens to own private businesses.The government blocks the ownership of personal property.The government owns all homes and other forms of housing.The government controls factories and other forms of production.The government allows citizens to own private businesses.
    The goal of a market economy is tosustain self-sufficiency.preserve traditional customs.create equality within a society.promote free economic choices.promote free economic choices.
    A mixed market economy tends to exist under acommunist government that provides little regulation.democratic government that provides some regulation.representative government that provides no regulation.socialist government that provides a lot of regulation.democratic government that provides some regulation.
    Which statement best describes a mixed market economy?Consumer intervention in economic choices is strictly forbidden.The government determines economic choices and makes most decisions.The decisions made by producers and consumers drive all economic choices.Producers and consumers make some economic choices while the government makes othersProducers and consumers make some economic choices while the government makes others.
    Which statement best describes a command economy?Government intervention in economic choices is strictly forbidden.The government determines economic choices and makes most decisions.The decisions made by producers and consumers drive all economic choices.Producers and consumers make some economic choices while the government makes others.The government determines economic choices and makes most decisions.
    A command economy tends to exist under acommunist government that provides little regulation.democratic government that provides some regulation.representative government that provides no regulation.socialist government that provides a lot of regulation.socialist government that provides a lot of regulation.
    What is one way a command economy affects the lives of private citizens?Citizens cannot make most economic decisions.Citizens can only work in factories or on farms.Citizens must pay for their own health care.Citizens have limited access to education.Citizens cannot make most economic decisions.
    The goal of a command economy is tosustain self-sufficiency.preserve traditional customs.create equality within a society.promote free economic choices.NOT sustain self-sufficiency.CORRECT ANSWER -- create equality within a society.
    What is one way a market economy affects the lives of private citizens?Citizens can change jobs relatively easily.Citizens cannot choose their own careers.Citizens do not have to pay for their housing.Citizens have little freedom and independence.Citizens can change jobs relatively easily.
    Which nation has a communist command economy?NorwayNorth KoreaSouth Koreathe United StatesNorth Korea

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    What restriction would the government impose in a closed economy? a. The government would prohibit trade with other nations. b. The government would set the prices for imported goods. c. The government would preserve traditional customs only. d. The gover

    Answer to: What restriction would the government impose in a closed economy? a. The government would prohibit trade with other nations. b. The...

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    Question:

    What restriction would the government impose in a closed economy?

    a. The government would prohibit trade with other nations.

    b. The government would set the prices for imported goods.

    c. The government would preserve traditional customs only.

    d. The government would prevent private ownership of property.

    Macroeconomics

    Macroeconomics is a study of social sciences and economics that focuses on learning insights into a country's economy. Macroeconomics helps us determine the gross domestic product, national income, per capita income, and unemployment rates. The study of economics helps us to understand the appropriate allocation of resources in the economy.

    Answer and Explanation: 1
    The correct answer is option A) The government would prohibit trade with other nations

    A closed economy can be described as a highly independent and self-sufficient economy in terms of resources. This type of economy does not get involved in international trade and produce their goods and services with the resources available. The government of a closed economy is most likely to prohibit trade with other nations because they rely mostly upon themselves.

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    Economy Models: Classical Vs Keynesian

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    Economic models are used by economists to describe capitalist economies. Explore economic models, discover details about the classical and Keynesian models, and learn about the differences between these models.

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