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The 3 questions that must be answered by the economic system are
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
A formal halt to trade between nations is called
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
As a country's literacy rate and GDP rises their standard of living usually
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
Producers and consumers make all the economic decisions in which economic system?
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
Which of the following is not a man-made trade barrier?
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
A scale showing the value of a country's currency in comparison to another country is
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
Investment in updating computer technology, machinery and equipment are investments in
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
Which economic system is based on customs of the past?
an exchange rate
an embargo
Traditional
increases
What to produce, how to produce and for whom to produce.
capital goods
Market
GDP
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