An economy that does not have interactions in trade or finance with other economies is referred to as
A)an open economy.
B)a closed economy.
C)a trade-balanced economy.
D)a net foreign investment economy.
E)a mixed economy.

Question

Quizplus · Accepted Answer

A closed economy is one that does not engage in trade or financial transactions with other economies. Therefore, it is not open to international trade or investment flows.

An Economy That Does Not Have Interactions in Trade or Finance