A Closed Economy Is One in Which

question 37

Multiple Choice

A closed economy is one in which

• A)investment spending is zero.
• B)government spending is zero.
• C)there are no international flows of saving and investment.
• D)demand equals supply in every market.

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Definitions:

Units

Basic measures or quantities of product or service in business operations, often used in contexts such as inventory, production, and sales.

Scatter Diagram

A scatter diagram is a graphical representation used to illustrate the relationship between two quantitative variables, helping in identifying patterns or correlations.

Estimated Line of Cost Behavior

An analysis tool used to predict changes in costs relative to changes in business activities and volume, aiding in budgeting and cost management.

Least-Squares Regression Method

A statistical method used to estimate the relationship between variables by minimizing the differences between the observed values and the values predicted by a linear function.