A country with no trade and no borrowing and lending relationships with other countries is known as a(n)
A) planned economy.
B) market economy.
C) open economy.
D) closed economy.
Answer: D
You might also like to view...
What was the Industrial Revolution? How did it contribute to modern economic growth?
What will be an ideal response?
What could result in an increase of consumption demand and a decrease in labor supply?
A) a drop in current taxes B) an increase in future taxes C) a decrease in total factor productivity D) an increase in government expenses
If the short-run aggregate supply curve is positively sloped and the Fed increases the money supply, aggregate demand: a. falls, which increases real GDP and the price level
b. increases, which decreases real GDP and the price level. c. falls, which decreases real GDP and increases the price level. d. increases, which decreases real GDP and increases the price level. e. increases, which increases real GDP and the price level.
GDP includes