Economics · Macroeconomics
Which of the following best describes a 'Closed Economy'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An economy with highly controlled foreign investment
- 2An economy that does not conduct trade with other countries✓
- 3An economy engaged only in imports
- 4An economy engaged only in exports
Correct answer
An economy that does not conduct trade with other countries
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