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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 government would prevent private ownership of property.
Ā
There is a transfer of work from the ruler to the ruling class, wherein it is the decision of the government of what goods and services will be produced in the economy, as well as the prices charged for it. Identify the economy type
