A closed economy is one that
A)has no government sector.
B)neither borrows from nor lends to foreign countries.
C)produces mainly agricultural goods.
D)produces mainly manufactured goods.

Question

Quizplus · Accepted Answer

A closed economy is one that does not borrow from or lend to foreign countries, meaning that its trade is entirely domestic. It may still have a government sector and produce any variety of goods. Options A, C, and D are therefore incorrect.

A Closed Economy Is One That