A closed economy:
A) does not interact with other economies.
B) does not publish its financial information to the public.
C) collects only income tax revenue.
D) establishes tariffs with all countries it trades with.

Question

Quizplus · Accepted Answer

A closed economy is one that does not interact with other economies, meaning it does not engage in international trade or financial transactions with other countries. It is self-sufficient in terms of producing goods and services. The other options do not accurately describe a closed economy.

A Closed Economy