A closed economy is one in which
A) imports exactly equal exports, so that trade is balanced.
B) domestic firms invest in industries overseas.
C) the home economy is isolated from foreign trade.
D) technological innovations and improvements in the efficiency of international transport are highly valued.
Correct Answer:
Verified
Q9: Specialization is an advantage of
A) large-scale production.
B)
Q10: Which statement about globalization is true?
A) It
Q11: With globalization and import competition, U.S.prices generally
A)
Q12: The largest amount of trade with the
Q13: Which statement is true about import restrictions?
A)
Q15: Which statement is true about international trade?
A)
Q16: According to human rights activists, which organization
Q17: The definition of an open economy is
Q18: The United States was less open to
Q19: Following World War II, the U.S.
A) became
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