A closed economy is an economy that:
A. does not interact with other economies.
B. publishes its financial information to the public.
C. collects tax revenue.
D. has free trade relationship with other countries.
A. does not interact with other economies.
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During the turmoil in the market for subprime mortgages in 2007 and 2008, the Fed increased the volume of discount loans. The goal of the Fed was to
A) reduce unemployment. B) stimulate economic growth. C) reduce the rate of inflation. D) reassure financial markets and promote financial stability. E) reduce the current account deficit.
Wild animals are likely to be
A) private property. B) endangered species. C) domesticated by humans. D) all of the above.
Which of the following goods is most likely to be associated with monopolistic competition?
a. Gasoline b. Milk c. Cookies d. Wheat
Which of the following questions would economists most likely disagree about?
a. What will be the effect of the new minimum wage on the sales of a product? b. How much should a company increase the price of a product? c. How much will demand increase for a product if the price decreases by 2 percent? d. What will be the increase in production with new technology in place?