Question

Which economy is called as Closed Economy? 

A Neither export nor import takes place Correct Answer Incorrect Answer
B Money supply is fully controlled Correct Answer Incorrect Answer
C Deficit financing takes place Correct Answer Incorrect Answer
D Only export takes place Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

A  closed economy   is self-sufficient, meaning no imports are brought in and no exports are sent out, the goal being to provide consumers with everything they need from within the economy's   borders.

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