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the production possibility frontier model showed the tradeoff between current consumption

the production possibility frontier model showed the tradeoff between current consumption

the production possibility frontier model showed the tradeoff between current consumption and capital goods.
Explain the role of saving in this model and how increased saving will lead to greater economic growth in the future.
 When answering the question explain how a “market economy” versus a “command economy” would determine the
appropriate mix between consumption and saving and how in a “mixed economy” the government could influence the outcome.
This can be viewed either from the macro economy or individually (micro).

Johnson 09-Nov-2017

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