A closed economy refers to an economy with
A) no immigration. B) tariffs and import quotas.
C) government control of all factors of production. D) no international trade.
D
Economics
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Recall the Application. Unlike the Euro-zone, the United States does not just have a single currency, but also has a ________ that provides transfers to areas in economic distress
A) single central bank B) unified fiscal system C) national trade agreement D) federally funded emergency account
Economics
If the selling price of a firm's product is $200 and the estimated average cost of producing this product is $150, what is the firm's markup?
A) 75 percent B) 33.33 percent C) 25 percent D) impossible to determine with the information given
Economics