If an Economy Is Closed and If It Has No

question 38

Multiple Choice

If an economy is closed and if it has no government,then

• A)national saving = 0.
• B)national saving = private saving.
• C)public saving = investment.
• D)gross domestic product = consumption.

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Definitions:

Dr Pepper/Seven Up, Inc.

A major soft drink company in the United States, known for producing popular beverages such as Dr Pepper and 7UP.

Brand Licensing

A contractual agreement whereby one company (licensor) allows its brand name(s) or trademark(s) to be used with products or services offered by another company (licensee) for a royalty or fee.

Luxottica Group

An Italian multinational corporation that designs, manufactures, and sells eyewear and eyecare products, known for owning numerous prestigious brands and retail outlets.

Ralph Lauren

An American fashion designer known for his eponymous global multi-billion-dollar enterprise, which represents a distinctive American style.